Ghana Economy Grew Faster Than Expected on Manufacturing, Cocoa
- GDP expanded 4.8% in second quarter; median estimate was 2.7%
- Ghana targets annual economic growth of 3.7% this year
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Ghana’s economy grew faster than expected in the three months through June, expanding 4.8%, buoyed by manufacturing and cocoa production.
The median of five economists’ estimates in a Bloomberg survey was for growth of 2.7%. Yields on Ghana’s dollar bonds were little changed after the release of the data, with the government’s budget targets seen as increasingly attainable. The economy grew 1.1% from the previous quarter.