Consumer, business confidence on the rebound – BoG

The latest surveys conducted in August 2024 showed “a rebound” in both consumer and business confidence, Bank of Ghana Governor Ernest Addison has said.

Briefing journalists on Friday, 27 September 2024 following the central bank’s Monetary Policy Committee meeting, Dr Addison said: “Consumer confidence improved on account of easing inflationary pressures which has led to optimism about future economic conditions.”

Similarly, he noted that business confidence “firmed up” as firms met their short-term targets and expressed “positive” sentiments about company and industry prospects amidst “improving” macroeconomic conditions.

He said the survey findings were broadly in line with observed trends in Ghana’s Purchasing Managers’ Index (PMI).

The PMI improved to 51.1 in August 2024 from 50.1 in the previous month.

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