Ghana’s Monthly Indicator of Economic Growth (MIEG) registered a 4.5 percent year-on-year increase in July, a significant slowdown from the 8.3 percent recorded in the same period last year, according to new data released on Thursday, October 16, by the Ghana Statistical Service (GSS).
Government Statistician, Alhassan Iddrisu, highlighted that the services sector remained resilient, expanding by 6.4 percent compared to 4.5 percent in July 2024. The agriculture sector showed a strong rebound with an 8 percent growth rate, up from 2.4 percent the previous year, driven largely by increased crop and livestock production, which accounted for 37.1 percent of total growth.
However, the industrial sector experienced a sharp contraction, posting a marginal 0.1 percent growth, down from 17.7 percent in 2024. The GSS noted that the MIEG, a newly developed index, offers an early indicator of the country’s economic trajectory and overall performance trends.