Ghana Economy Contracts First Time in Four Years on Lockdown
- GDP contracted 3.2% in second quarter from a year earlier
- Hotel industry contracted by almost 80% in the period
A worker uses a sewing machine to assemble a piece of personal protective equipment for COVID-19 health workers at a factory in Accra.
Photographer: Nipah Dennis/AFP via Getty Images
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Ghana’s economy contracted in the second quarter for the first time in four years as lockdown restrictions to curb the coronavirus stalled activity and oil prices slumped.
Gross domestic product shrank 3.2% in the three months through June from a year earlier, Samuel Kobina Annim, government statistician, said Wednesday in the capital, Accra. That compares with growth of 4.9% in the first quarter. The median of six economists’ estimate in a Bloomberg survey was for a contraction of 3.8%.