Fresh data from the latest Monetary Policy Report released by the Bank of Ghana indicates that recent economic stabilisation efforts are beginning to yield tangible results, as both consumers and businesses closed 2025 on a more optimistic note.
The Consumer Confidence Index edged up to 116.4 in December from 115.3 in October, reflecting renewed optimism among households. The improvement was largely attributed to easing inflationary pressures, which have strengthened expectations of price stability and improved near-term economic conditions.
Businesses also reported a brighter outlook. The Business Confidence Index rose to 107.7 from 106.5 over the same period, with firms pointing to the achievement of internal performance targets, relative exchange rate stability, and expectations of lower borrowing costs as factors supporting their confidence.
Complementing the improved sentiment, Ghana’s Purchasing Managers’ Index increased to 51.1 in December 2025 from 50.1 in November. The reading above the 50-point threshold signals expansion in business activity, driven primarily by a rise in new orders.
The synchronised rise in consumer and business confidence suggests that macroeconomic reforms are gradually feeding into real-sector activity. Stronger household sentiment could bolster consumption spending, while improved business optimism may translate into increased investment and employment in the months ahead.
However, analysts caution that sustaining the momentum will depend heavily on maintaining price stability and ensuring predictable financing conditions to prevent any reversal in expectations.
