Ghana’s economy grew by 5.1% in May 2026, maintaining its expansion but slowing from the 6.6% recorded in May 2025, according to the latest Monthly Indicator of Economic Growth (MIEG) published by the Ghana Statistical Service (GSS).

The latest figure represents a 1.5 percentage-point decline in the pace of growth compared with the same month last year.

The GSS stressed that the slowdown does not mean the economy is contracting. Rather, economic activity remained higher than it was a year earlier, but expanded at a more moderate pace.

Services remain key growth driver

The services sector continued to lead economic growth, expanding by 7.2% in May 2026, compared with 7.5% in May 2025.

Information and communication activities were among the key contributors to the sector’s performance, reflecting the growing role of digital and telecommunications-related activities in the economy.

The services sector accounted for more than half of the overall growth recorded during the month, maintaining its position as Ghana’s leading contributor to economic expansion.

Agriculture records sharp slowdown

Agriculture recorded the most significant slowdown among the three major sectors.

Growth in the sector fell from 9.8% in May 2025 to 3.6% in May 2026.

The development is significant given the sector’s contribution to employment and livelihoods, particularly in rural communities.

Industry posts moderate growth

The industrial sector grew by 4.2% in May 2026, compared with 4.6% in the same month last year.

The relatively modest decline was supported largely by mining and quarrying, highlighting the continued importance of extractive activities to Ghana’s industrial output.

Overall, the May figures show an economy that continues to expand, although at a slower pace than the same period in 2025, with the sharp decline in agricultural growth standing out as one of the key developments in the latest data.