PMI will make investors understand Ghana’s economy - Alhassan Andani

The Managing Director of Stanbic Bank, Alhassan Andani has indicated that investors will now have reliable and credible information concerning the Ghanaian economy thanks to the Purchasing Managers Index (PMI).

Speaking at the launch of Stanbic Bank’s Purchasing Managers Index (PMI) at the Holiday Inn in Accra on Tuesday, September 26, Mr. Andani said investors will now understand the economy from the practitioners' point of view as it provides an early and accurate indication of business trends in the country.

According to him, most reports written about Ghana’s economy are normally not accurate; so with the introduction of PMI, the country can now write its own economic reports that will hence attract more investors when they see our economy is picking up gradually.

“It makes people to really understand the economy from the practitioners' point of view. There are still a lot of things written about our economy not by ourselves, not by people who actually operate in, people write about it they don’t know what they are talking about. We actually want investors to now know what the real operators in the economy are saying".

He, therefore, appealed to companies they will be partnering with to help give credible and truthful information when questionnaires are sent out.

The PMI is a series of monthly economic surveys of companies carefully selected and compiled by Markit Economics, a global provider of some of the world’s most influential business surveys.

The surveys form a key source of business intelligence for participants operating in the ‘real’ economy. They provide an advance signal of what is really happening in the private sector economy by tracking variables such as outputs, new orders, employment and prices across key sectors.