Ghana’s economy continued to show strong signs of recovery in February 2026, with economic activity expanding by 7.7% compared to the same period last year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service.

The report revealed that the MIEG index increased to 111.3 in February 2026, up from 103.3 recorded in February 2025. The rise reflects stronger activity across key sectors of the economy and points to improving business confidence and market performance.

Speaking at a press briefing on May 13, Government Statistician Alhassan Iddrisu said the latest figures indicate that the Ghanaian economy is performing better than it did during the same period last year.

The MIEG is used as an early measure of Ghana’s economic performance and provides signals on the direction of the country’s quarterly Gross Domestic Product (GDP) growth.

According to the report, the services sector remained the biggest contributor to overall economic expansion, accounting for 47.6% of the total growth recorded in February 2026. The industry sector contributed 44.2%, while agriculture accounted for 5.5%. Net indirect taxes made up the remaining 2.7%.

Among the three major sectors, industry recorded the strongest growth, expanding by 9.6% year-on-year. The growth was largely driven by increased activity in mining and quarrying, manufacturing, and electricity production. This marks a significant improvement compared to the 2.8% growth recorded in the same sector in February 2025.

The services sector also posted solid growth of 7.4%, rising from 4.4% during the same period last year. Growth in the sector was supported mainly by activities in information and communication, finance and insurance, health, and trade.

Agriculture, however, experienced slower growth. The sector expanded by 3.8% in February 2026, lower than the 9.4% growth recorded in February 2025. According to the GSS, the sector’s performance was mainly supported by activities in crops, livestock, forestry, and logging.

The report also included revised figures for January 2026. The earlier provisional growth estimate of 7.5% was revised downward to 6.1% after additional data was received from institutions including the Ghana Revenue Authority, Fisheries Commission, Controller and Accountant-General's Department, and the Volta River Authority.

The revisions affected several subsectors, including manufacturing, trade, fishing, electricity, public administration, health, and education. While industry growth estimates for January were revised upward from 7.0% to 8.9%, services saw a sharp downward revision from 9.6% to 5.3%.

The GSS explained that the MIEG remains an experimental statistical tool and is not yet seasonally adjusted because the available data series is still limited. For now, the report focuses only on annual growth comparisons.

The next MIEG report, which will cover March 2026 economic activity, is expected to be released on June 10, 2026, together with Ghana’s first-quarter GDP estimates.