Ghana’s economy recorded a 3.8 percent year-on-year expansion in October 2025, signaling sustained recovery momentum and strengthening output across key sectors, according to provisional data from the Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) .
The MIEG index rose to 112.7 in October 2025, up from 108.6 in the same period last year, reflecting broad-based economic improvement driven largely by the services and industrial sectors.
The MIEG is a high-frequency economic indicator designed to provide early signals of quarterly GDP trends ahead of official national accounts.
Data from the GSS show that the services sector recorded the strongest performance, expanding by 5.5 percent year-on-year and contributing 74.7 percent to overall economic growth.
The growth was underpinned by continued expansion in information and communication services, as well as wholesale and retail trade, highlighting the increasing role of digitalisation and consumer activity in Ghana’s economic structure .
The industry sector also showed a notable rebound, growing by 3.0 percent in October 2025, a sharp improvement from the 0.4 percent growth recorded in October 2024.
According to the GSS, this expansion was largely driven by improved performance within the manufacturing subsectors, suggesting a gradual strengthening of domestic production and industrial activity.
Meanwhile, the agriculture sector recorded a more modest growth of 0.9 percent, compared to 2.1 percent in October 2024.
Although the sector maintained a positive trajectory, the slower pace reflects seasonal patterns and structural challenges, particularly in crop and livestock production. Agriculture contributed 1.3 percent to the overall growth rate.
Government Statistician Dr. Alhassan Iddrisu noted that while the MIEG offers timely insights into economic direction, the figures remain provisional and may be revised as more comprehensive data become available.
He cautioned that the index is not seasonally adjusted, making month-to-month comparisons more volatile.
The October results extend Ghana’s upward economic trend observed since 2023, reinforcing expectations of firmer growth outcomes for the fourth quarter of 2025.
Analysts say the strong services-led expansion could support employment, consumer confidence, and private sector investment heading into 2026.
