BoG’s real sector indicators point to significant improved business, consumer sentiments

Dr. Johnson Asiama, BoG Governor

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The Bank of Ghana’s real sector indicators point to a sustained improvement in economic activity amid significantly improved business and consumer sentiments.

According to the Central Bank, the updated Composite Index of Economic Activity (CIEA) rose by 5.7% year-on-year in January 2025, relative to 3.5% in the same period of 2024.

This was driven by increased consumption, international trade activities and private sector credit growth.

Also, the confidence surveys conducted in February 2025 showed significant improvement in both consumer and business sentiments, buoyed by expectations for an improved macroeconomic environment.

Meanwhile, the Bank of Ghana has stated that private sector credit is beginning to show signs of recovery.

In February 2025, private sector credit recorded 26.9% annual growth compared with 5.1% in February 2024.

In real terms, credit growth was 3.1%, compared with a decline of 14.7% in February 2024

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Private Sector Credit

Real sector