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Financial & Insurance sector grows negative 24 months in a row

For the past two years – since first-quarter of 2017 – the financial and insurance sector of the economy, which are jointly assessed, has experienced contracted growth consecutively; with the latest being -13.4 percent growth in second-quarter of 2018, the Ghana Statistical Services' (GSS) data have revealed.

A critical analysis of the second-quarter GDP figures shows that the financial and insurance sector, over the past few years, has been the worst-performing among all sectors of the economy.

After recording 22.3 percent growth in quarter-four of 2016, the financial and insurance sector took a sharp nose-dive to record -11.2 percent in the first quarter of 2017. It further dropped to -8.6, -25.5, and -25 percent respectively in the final three quarters of last year.

Oct. 19, 2018

References:

• https://www.ghanaweb.com/GhanaHomePage/business/Financial-Insurance-sector-grows-negative-24-months-in-a-row-694251
• https://thebftonline.com/2018/headlines/financial-insurance-sector-grows-negative-24-months-in-a-row/
• https://myarkfmonline.com/2018/10/economy-grows-by-5-4-in-second-quarter/
• https://www.graphic.com.gh/news/general-news/economy-grows-by-5-4-in-second-quarter.html
• https://ghanafinancialmarket.wordpress.com/2018/10/22/ghana-financial-insurance-sector-grows-13-4-growth-in-second-quarter-of-2018/