Economic activities mixed in 7 months of 2026; Cement sales decline by 10%
Retail sales, however, declined by 1.5% (year-on-year) to GH¢236.41 million in July 2026, down from the GH¢239.89 million recorded in the same period in 2025.
In the first seven months of 2026, consumer spending exhibited mixed results compared to the same period in 2025, according to the September 2026 Monetary Policy Report. While domestic VAT collections surged by 11.5% year-on-year, retail sales experienced a decline of 1.5% on a year-on-year basis. Manufacturing activities showed improvement, with direct taxes collected rising by 53.5% and private sector workers' contributions to the SSNIT Pension Scheme increasing by 11.2%.
However, the construction sector, as indicated by cement sales, contracted by 4.9% year-on-year, with the cumulative volume of cement sales falling by 10.3% in the first seven months of 2026. Vehicle registration activities in the transport sector improved significantly, with new vehicle registrations rising by 51.7% compared to the same period in 2025.
Cumulatively, the number of vehicles registered by the DVLA increased by 52.7% in the first seven months of 2026.
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