Analysis by Region - Emerging Markets - Ghana
Ghana's economy grew by 6.9% y/y in Q2 2024, up from 4.8% y/y in Q1. This brings H1 growth to 5.9% y/y, the fastest growth pace since 2019. The industrial sector was the main driver of the robust economic expansion, while agriculture and services also contributed to growth. The country's July-September PMI readings imply that activity moderated in Q3, informing our expectation of slowing growth in H2 2024. Nevertheless, we forecast real GDP growth to reach 5.0% this year, up 0.8 ppt from our previous prediction.
- Ghana: Strong GDP print prompts upward growth revision
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- Background
- Economic development
- Structure of the economy
- Balance of payments
- Policy and politics
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