Consumer confidence dips, economic growth shows promising signs

According to the Bank of Ghana, both business and consumer confidence has dipped in April 2024 due to exchange rate fluctuations and erratic power supply.

The consumer sentiment index fell from 92.0 in February to 87.7, while business confidence dropped from 96.0 to 92.6.

Despite these challenges, economic activity showed promise, with high-frequency indicators signaling an 11.9% growth rate in the first quarter and a 2.1% annual growth in March 2024, driven by increased imports, private sector SSNIT contributions, and a rise in tourist arrivals.

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