Consumer, business confidence shows significant improvement, highest in 7 years – BoG

Recent surveys by the Bank of Ghana show improved consumer and business confidence. This is the highest level in seven years.

The Central Bank's indicators also show a rise in economic activity.

In March 2025, the Composite Index of Economic Activity (CIEA) increased by 2.3%. This is up from 1.0% during the same period last year.

The increase was driven by exports, private sector credit, and construction activities.

Additionally, the Ghana Purchasing Managers’ Index rose above 50. This indicates growth as output and new orders increased.

Globally, economic conditions in early 2025 showed low growth prospects.

There were unsynchronized disinflation outcomes and tight financial conditions.

These issues stemmed largely from trade policy changes in the United States.

The U.S. imposed trade tariffs, leading to counter-tariff measures.

This has created policy uncertainty and weakened investor sentiment globally.