FX.co ★ Ghana’s Whole Economy PMI Edges Higher in February, Signalling Easing Downturn

Ghana’s Whole Economy Purchasing Managers’ Index (PMI) rose to 49.20% in February 2026, up from 48.50% in January 2026, indicating a month‑over‑month improvement in overall business conditions, though activity remains just below the threshold that separates contraction from expansion.

The data, updated on 4 March 2026, show that while the private sector is still in marginal contraction territory, the February reading points to a slowdown in the pace of decline compared with January. On a month‑over‑month basis, the latest figure reflects a modest but notable strengthening in the broader economy relative to the previous month’s performance.

With February’s PMI moving closer to the 50% mark, the data suggest that pressures on output and activity may be easing slightly, although a clear return to expansion has yet to be confirmed in the upcoming releases. The comparison framework used for the indicator evaluates each month’s change against the immediately preceding month, with January’s reading itself having been assessed relative to December’s performance.