Ghana’s economy expanded by 6.8 percent in August 2026, up from 5.3 percent recorded in the corresponding period last year, as strong growth in the services sector continued to underpin economic activity.

The latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) shows that services accounted for 69.9 percent of total economic growth, reinforcing the sector’s position as the largest contributor to the country’s economic expansion.

The sector grew by 10.7 percent in August, significantly higher than the 7.1 percent recorded in August 2025, with information and communication activities emerging as the leading driver of its performance.

Industry also recorded a notable recovery, expanding by 4.5 percent compared with marginal growth of 0.8 percent in the same period last year. The improvement was largely supported by stronger manufacturing activity, alongside mining and quarrying.

Agriculture, however, experienced a considerable slowdown, with growth declining to 2.6 percent in August from 8.6 percent a year earlier and 3.7 percent in July 2026.

In terms of sectoral contributions, services added 4.8 percentage points to the overall 6.8 percent growth, while industry contributed 1.4 percentage points. Agriculture accounted for 0.5 percentage points, with net taxes on products making up the remaining 0.1 percentage point.

The Government Statistician, Alhassan Iddrisu, explained that the monthly indicator provides an early assessment of economic performance ahead of the publication of the quarterly Gross Domestic Product (GDP) estimates.

The latest figures also show that economic activity grew by 7 percent in July 2026, although this was revised downward from the initial estimate of 7.4 percent following the incorporation of additional data.

With the August outturn, the average growth rate for July and August stands at 6.9 percent, offering an early indication of economic performance in the third quarter of 2026.

The GSS noted that the MIEG has consistently provided a reliable indication of the direction of quarterly GDP performance. This was reflected in the second quarter of 2026, when both the monthly indicator and the official quarterly GDP measure recorded growth of 6 percent.

The August figures are provisional and may be revised as more comprehensive data become available.

The next MIEG release, covering economic activity in September 2026, is expected in the second week of December.