Ghana’s economy grew by 5.1% in May 2026, continuing its expansion but at a slower pace than recorded during the same period last year.
The latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service (GSS) shows that the May growth rate was 1.5 percentage points lower than the 6.6% recorded in May 2025.
The GSS has clarified that the slowdown does not mean the economy contracted. Rather, economic activity continued to expand, but at a more moderate rate than a year earlier.
The services sector remained the main driver of growth, recording a 7.2% expansion in May, compared with 7.5% in May 2025. Information and communication activities were among the key contributors, highlighting the growing role of digital and communication-related businesses in the economy.
Services accounted for more than half of the overall growth recorded during the month, maintaining its position as Ghana’s strongest growth sector.
Agriculture, however, recorded a sharper slowdown. The sector grew by 3.6% in May, compared with 9.8% a year earlier.
The weaker agricultural performance could have wider implications if it continues, given the sector’s importance to employment, rural livelihoods and food production.
The industrial sector grew by 4.2%, slightly lower than the 4.6% recorded in May 2025. Mining and quarrying were the major contributors to industrial growth, underscoring the continued importance of the extractive sector to Ghana’s economic performance.
Overall, the May figures point to an economy that remains on a growth path, although the slower pace across key sectors suggests that maintaining strong and broad-based growth will remain important in the months ahead.
