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Ghanaian Times ghanaiantimes.com.gh 24 Nov, 2021 11:30 am

Economic activity picks up in third quarter – Dr Addison

Economic activity picks up in third quarter – Dr Addison

• Dr Addison Economic activity in the third quarter of the year shot up signalling a recovery in the economy, Governor of the Bank of Ghana, Dr Ernest Addison, has said.Speaking after the 103rd meeting of the Monetary Policy of the BoG, Dr Addison said the Bank of Ghana’s updated Composite Index of Economic Activity (CIEA) recorded an annual growth of 11.“The stronger growth in the CIEA was driven by domestic VAT, industrial consumption of electricity, port activity, imports, and air-passenger arrivals,” Dr Addison said.Dr Addison said the results of the latest confidence surveys signalled continued improvement in both business and consumer sentiments.

In addition, Dr Addison said consumer confidence improved on account of positive economic prospects.He explained that economic activity during the third quarter continued to point to sustained recovery from the COVID-19 pandemic.

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