Business in Ghana

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Posts Tagged ‘CIEA’

The Composite Index of Economic Activity is Improving, So What, says the Informal Sector

Posted by Business in Ghana on October 30, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

The Bank of Ghana (BoG) uses an aggregate of indexes, grouped and called the Composite Index of Economic Activity (CIEA) to guide the Bank’s Monetary Policy Committee in its bi-monthly report and policy interest rate setting.

The CIEA gets little mention in the financial press compared to its more well-known counterpart the Gross Domestic Product (GDP).  The GDP is produced by the Ghana Statistical Service (GSS) and the CIEA is a BoG product.  However, according to the Monetary Policy Analysis Division of the BoG, the CIEA tracks the GDP very closely and is taken by the BoG as a very good indicator of business confidence.

Once a month the Monetary Policy Analysis Division (MPAD) of the BoG undertakes a real sector survey of the economy.

Let me explain the CIEA a little more. Read the rest of this entry »

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