Ghana’s economy grew by 5.1% in May 2026, but the pace of expansion slowed compared with the same period last year. This is according to the latest Monthly Indicator of Economic Growth (MIEG) from the Ghana Statistical Service (GSS).

The May growth rate compares with 6.6% recorded in May 2025, representing a 1.5 percentage-point slowdown.

The GSS, however, says the slower growth should not be interpreted as a contraction. It means the economy is still expanding and is larger than it was a year earlier, but at a more moderate pace.

The services sector continued to lead economic expansion, growing by 7.2% in May 2026, slightly below the 7.5% recorded a year earlier.

The sector’s performance was driven largely by information and communication, underscoring the growing contribution of digital and communications-related activities to the economy.

Services accounted for more than half of the overall growth recorded in May, reinforcing its position as Ghana’s main growth engine.

Agriculture grew by 3.6%, down significantly from 9.8% in May 2025.

The sharp slowdown is significant because agriculture remains an important source of jobs and livelihoods, particularly outside the major urban centres.

A weaker pace of growth could therefore affect incomes and food supply if the trend persists.

The industry sector expanded by 4.2%, compared with 4.6% a year earlier. Mining and quarrying were the main drivers of industrial growth, pointing to the continued importance of extractive activities to Ghana’s economic performance.