“These numbers are not just statistics, but signals showing how different markets are performing” — Gov't Statistician

The Government Statistician, Dr. Alhassan Iddrisu (PhD), has underscored the significance of Ghana’s latest economic activity figures, stressing that the revised data provides critical guidance on how the country’s major sectors are evolving.

He made the remarks when he addressed the media on Thursday at the Ghana Statistical Service conference hall, following the release of updated economic indicators for August 2025.

Dr. Iddrisu explained that the revised growth figures — including the downward adjustment of the overall growth rate from 4.5 percent to 3.7 percent — should not be viewed merely as numbers on paper but as essential signals that reveal trends shaping Ghana’s economy.

“These numbers are not just statistics, but signals showing how different markets are performing,”

He highlighted that timely interpretation of such data enables policymakers, businesses, and households to respond swiftly and appropriately to changing economic conditions.

Providing a sector-by-sector breakdown, Dr. Iddrisu noted that the professional services sector continued to show robust performance, recording 5.1 percent growth in August, surpassing the earlier estimate of 4.9 percent.

This, he said, confirms stronger-than-expected activity in the sector based on updated assessments.

However, the industrial sector remained a source of concern, contracting by 1.8 percent in August.

This followed a revised contraction of 3.1 percent in July — a stark reversal from the 9.1 percent expansion captured in earlier project data.

The persistent decline, he warned, underscores the need for closer monitoring of petroleum and manufacturing subsectors, which continue to weigh on broader industrial performance.

On a more positive note, he pointed to the services sector, which expanded by 9.6 percent, compared with 2.6 percent recorded in August last year.

Agriculture, he mentioned, also maintained steady growth, reinforcing its role as a key stabilizer within the economy.

Dr. Iddrisu reaffirmed the Ghana Statistical Service’s commitment to delivering timely, high-quality, and relevant data to support evidence-based planning and decision-making.

He emphasized that the Service continues to strengthen its internal systems, enhance collaboration with stakeholders, and expand public access to critical information needed for economic governance.

To facilitate a deeper understanding of the latest economic developments, the Service has published several supporting documents on its website, including the newest edition of the Monthly Indicator of Economic Activity (MIEA), a newsletter, and the full presentation corresponding to the August release.

Story by: Joshua Kwabena Smith