{"id":116105,"date":"2026-02-19T21:20:26","date_gmt":"2026-02-19T21:20:26","guid":{"rendered":"https:\/\/sotnews.agency\/?p=116105"},"modified":"2026-02-19T21:20:26","modified_gmt":"2026-02-19T21:20:26","slug":"consumer-spending-posted-mixed-performance-in-11-months-of-2025-bog","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=116105","title":{"rendered":"Consumer spending posted mixed performance in 11 months of 2025 \u2013 BoG"},"content":{"rendered":"
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Consumer spending, proxied by domestic VAT collections and retail sales, posted a mixed performance in November 2025 compared with the corresponding period in 2024, the Bank of Ghana has disclosed in its January 2026 Monetary Policy Report.<\/p>\n

Domestic VAT collections increased by 38.2% on a year on-year basis to GH\u00a22.20 billion, from GH\u00a21.59 billion.<\/p>\n

Cumulatively, total domestic VAT for the first eleven months of 2025 went up by 24.6% to GH\u00a219.29 billion, compared with GH\u00a215.48 billion for the corresponding period of last year.<\/p>\n

Retail sales declined by 10.5% year-on-year to GH\u00a2284.43 million in November 2025, down from the GH\u00a2317.86 million recorded in the same period in 2024.<\/p>\n

Conversely, on a month-on-month basis, retail sales improved by 12.7% in November 2025 from GH\u00a2252.47 million in the preceding month.<\/p>\n

In cumulative terms, retail sales for the first eleven months of 2025 went up by 16.3%.<\/p>\n

Manufacturing Activities<\/strong><\/p>\n

Manufacturing activities in the manufacturing sub-sector, gauged by trends in the collection of direct taxes and private sector workers\u2019 contributions to the Social Security and National Insurance Trust (SSNIT) Pension Scheme (Tier-1), improved in July 2025.<\/p>\n

Total direct taxes collected increased by 14.8% year-on-year to GH\u00a25,26 billion in July 2025, relative to GH\u00a24.58 billion recorded in a similar period in 2024.<\/p>\n

Cumulatively, total direct taxes collected for the first seven months of 2025 went up by 26.2% to GH\u00a247.59 billion from GH\u00a237.702 billion for the same period in 2024.<\/p>\n

In terms of contributions of the various sub-tax categories, income tax (PAYE and self-employed) accounted for 43.0%, corporate tax accounted for 35.8%, while \u201cother tax sources\u201d contributed 21.2%.<\/p>\n

Private Sector SSNIT Contributions<\/strong><\/p>\n

Total private sector workers\u2019 contribution to the SSNIT Pension Scheme (Tier-1) increased by 8.6% in year-on year terms to GH\u00a2513.34 million in July 2025, from GH\u00a2472.81 million collected during the corresponding period in 2024.<\/p>\n

Cumulatively, for the first seven months of 2025, the contribution grew by 22.6% to GH\u00a23.48 billion, relative to GH\u00a22.84 billion recorded in the same period in 2024.<\/p>\n

Construction Sector Activities<\/strong><\/p>\n

Activity in the construction sub-sector, proxied by the volume of cement sales, declined by 10.7% year-on-year in July 2025 to 212,735.33 tonnes, down from 238,167.80 tonnes recorded a year ago.<\/p>\n

However, on a month-on-month basis, total cement sales increased by 3.1% in July 2025 compared with the 206,282.00 tonnes recorded in June 2025.<\/p>\n

Cumulatively, cement sales for the first seven months of 2025 improved by 2.8 percent to 1,644,413.19 tonnes.<\/p>\n<\/div>\n

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Retail sales declined by 10.5% year-on-year to GH\u00a2284.43 million in November 2025, down from the GH\u00a2317.86 million recorded in the same period in 2024.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2367,12,17204,17205,319,1978,17206,17207,10,9],"tags":[],"class_list":["post-116105","post","type-post","status-publish","format-standard","hentry","category-bog","category-business","category-construction-activities","category-consumer-spending","category-economy","category-hp-business-1","category-manufacturing-sector-activities","category-mpc-report","category-politics","category-popular"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/116105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116105"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/116105\/revisions"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}