• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

BoG’s CIEA index falls by 7.6%

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
78
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

BoG’s CIEA index falls by 7.6%

Ghana’s economy suffered a significant contraction in economic activity in January 2023, according to the Bank’s Composite Index of Economic Activity (CIEA).

The index fell by 7.6 percent compared to the same period in the previous year, with port activity, cement sales, imports, and credit to the private sector being the main indicators that weighed down the index. This contraction in real sector activity is a cause for concern, particularly as it follows a growth rate of 4.2 percent in the same period of 2022.

However, it is not all doom and gloom for Ghana’s economy, as both business and consumer sentiment improved in February 2023. Consumer confidence improved due to easing inflationary pressures, which led to some optimism about future economic conditions.

Meanwhile, business sentiment improved as companies met short-term targets amid positive company and industry prospects. The survey findings were consistent with observed trends in Ghana’s PMI for February 2023, which rose above the benchmark level of 50 for the first time since January 2022.

While the improvement in sentiment is certainly positive, it remains to be seen whether this will translate into sustained economic growth in the coming months. Factors such as fiscal and monetary policy, as well as external factors such as global commodity prices and the COVID-19 pandemic, will play a crucial role in determining the trajectory of Ghana’s economy.

Indeed, as the IMF noted in its latest report on Ghana, the country’s economic recovery is dependent on continued efforts to contain the pandemic and ensure macroeconomic stability.

RelatedPosts

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

2025 Study: Where High Earners Keep Most of Their Money 

Against this backdrop, the government’s policies and actions will be closely scrutinized by investors and analysts alike. Ghana has made progress in recent years in improving its business environment and attracting foreign investment, but the current economic challenges will require a concerted effort to address.

For example, policies aimed at boosting infrastructure investment and promoting export diversification could help to mitigate the impact of external shocks and support long-term growth.

While Ghana’s recent economic contraction is a cause for concern, there are some positive signs of improvement in sentiment. It will be important to continue monitoring economic indicators and policy developments in the coming months to assess whether this improvement is sustained and whether it translates into meaningful economic growth.

Tags: BOGBoG's CIEA index falls by 7.6%CIEA
No Result
View All Result

Highlights

GoldBod Introduces Special Bonus for Licensed Miners

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

BoG Tightens Foreign Currency Import and Export Rules to Curb Money Laundering

BoG Reiterates Warning Against Unauthorised Foreign Exchange Transactions

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Trending

Business

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah

August 27, 2025

Regular Fiscal Data Publication Key to Having an Effective Fiscal Council, Says Oppong Nkrumah Ranking Member of...

Finance Ministry Backs New Fiscal Council to Anchor Discipline and Stability

August 27, 2025

2025 Study: Where High Earners Keep Most of Their Money 

August 27, 2025

GoldBod Introduces Special Bonus for Licensed Miners

August 27, 2025

Thomas Partey in Top Form for Black Stars Amid Legal Challenges – GFA 

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.