The MIEG, which measures monthly economic performance, indicated that the services sector drove the growth in August, contributing 4.08 percentage points to the overall 5.1 percent expansion.

Prof. Robert Darko Osei (head of table) making a presentation on the budget Photo: Ebo Gorman

Presenting the data, Government Statistician Dr Alhassan Iddrisu explained that the services sector expanded by 9.6 percent. Agriculture also recorded appreciable growth of 7.4 percent, contributing 1.39 percentage points to the total growth.

However, the industrial sector contracted by 1.08 percent, weighed down by reduced petroleum production, weaker manufacturing activity, and declines in accommodation, food services, health, and social work.

Dr Iddrisu noted that the August MIEG index stood at 108.0, up from 102.7 in the same month last year, translating into a year-on-year expansion of 5.1 percent and signaling stronger overall economic activity compared to August 2024.

He added that activity across crops, fishing, electricity generation, information and communication technology, trade, transport, storage, and education buoyed national output, while industrial struggles remained a recurring feature throughout 2025.

The Government Statistician highlighted that the average growth for the first eight months of the year was 1.8 percent, far below the 10.6 percent recorded over the same period in 2024, with contraction in crude oil output being the principal drag.

Dr Iddrisu also emphasized the steady rise of the MIEG index from 98.0 in August 2023 to 103.0 in August 2024 and now 108.0 in August 2025, indicating continued strengthening of economic activity over the three-year period.

He described agriculture’s performance as “remarkable,” more than tripling last year’s 2.3 percent growth, while the services sector maintained strong momentum, rising from 103 in August 2024 to 113 this year. Industry, on the other hand, dipped from 109 to 107 over the same period.

Finally, Dr Iddrisu said the MIEG serves as an early-warning tool enabling households, businesses, and policymakers to make informed decisions based on real-time data, reaffirming the GSS’s commitment to providing timely, accurate, and comprehensive data to support national development.