Ghana’s economy expanded by 7.7% year-on-year in February 2026. This growth was largely due to strong performance in the services and industrial sectors. The latest Monthly Indicator of Economic Growth (MIEG) reveals a continued upward trend in economic activities.
The Services sector grew by 7.4% during this period. It accounted for 47.6% of the country’s total economic expansion. Increased activity in the information and communication sub-sector particularly supported this growth. The Industrial sector recorded an even stronger growth of 9.6% year-on-year. This was largely driven by expansion in mining and quarrying operations. The Agriculture sector posted more moderate growth of 3.8%, boosted by crops and livestock production.
This growth marks a significant moment for Ghana's economic narrative. It follows a period of stability challenges. The MIEG index rose to 111.3 in February 2026 from 103.3 in February 2025. This rise indicates sustained recovery and resilience within the economy. This positive trajectory aligns with broader government efforts to stabilize and stimulate economic activity. This includes measures to control inflation and manage exchange rate pressures.
Government Statistician Alhassan Iddrisu highlighted the significance of the data. He stated the figures provide an early signal of improving economic conditions. This precedes the country’s official quarterly Gross Domestic Product (GDP) release. “The indicator offers a timely snapshot of economic performance across key sectors,” Mr. Iddrisu noted. The Ghana Statistical Service creates the MIEG by tracking changes in economic activity. It uses high-frequency data and administrative records, adjusted for inflation, across agriculture, industry, and services.
This strong performance in services and industry suggests improving business activity and investor confidence. Policymakers will closely monitor whether this growth momentum can be sustained. Future decisions by the Bank of Ghana regarding interest rates may be influenced. This data could also inform government fiscal policies. Businesses might see opportunities for further investment and expansion based on these positive signals. Concerns remain around inflation, exchange rate pressures, and global economic uncertainties, which policymakers must still address.