MPC Press Release - May 2006 |
Wednesday, 31 May 2006 00:00 |
The economic indicators available to the Bank suggest that economic activity remains robust through the first quarter of 2006. The Bank of Ghana’s Composite Index of Economic Activity increased in nominal, and real terms, during the first quarter of 2006 as the economy continued on a cyclical upswing. The index rose by 4.8 percent compared to 4.5 percent in the last quarter of 2005. Major components of the index, indicators such as imports, exports, port activities, private sector contributions to SSNIT on behalf of employees, industrial electricity consumption, credit to the private sector, tourist arrivals, and cement sales recorded above trend increases during the quarter.
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