Ghana’s economy expanded by 4.2 percent in November 2025, a notable slowdown from the 7.1 percent growth recorded in November 2024, according to the latest Monthly Indicator of Economic Growth (MIEG) report published by the Ghana Statistical Service (GSS).
The data reflects continued economic recovery following the fiscal consolidation and structural reforms implemented over the past year, even as growth moderates compared with prior performance. The MIEG, which provides real-time monthly estimates of national economic activity, shows that while the economy remained in positive territory, the pace of expansion softened.
The slowdown in year-on-year growth has been attributed to a combination of domestic and global factors, including subdued demand in key sectors, inflationary pressures on households and businesses, and lingering external headwinds affecting trade and investment. Analysts note that while broad-based recovery efforts have supported output in areas such as services and industry, tighter fiscal and monetary conditions have weighed on short-term growth momentum.
Despite the slower rate, sectors such as services, manufacturing and agriculture continued to contribute to overall expansion, with improvements in domestic consumption and business activity partially offsetting weaker performances in other segments.
Economists say that the comparative decline from 7.1 percent to 4.2 percent growth underscores the transitional phase of Ghana’s macroeconomic landscape as policymakers balance stabilisation with long-term productivity gains. Fiscal consolidation measures and structural reforms, including revenue mobilisation efforts and investments in priority sectors, are expected to influence future performance as the country works to sustain inclusive growth.
The GSS monthly indicator provides policymakers, investors and the public with timely insights into economic trends, helping to guide decision-making and monitor progress against national development objectives.
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