The LMI for the fourth quarter of 2023 decreased
by 0.4 points to 63.3 from the previous quarter’s
63.7 (third quarter).
Growth is INCREASING AT AN INCREASING RATE for Warehousing Capacity, Warehousing Utilization,
Warehousing Prices, Transportation Capacity and
Transportation Utilization.
Growth is INCREASING AT A DECREASING RATE
for Inventory Levels, Inventory Costs and
Transportation Prices.
(Kumasi, Ghana) – The fourth quarter 2023 Logistics
Managers Index registered a value of 63.3, which is
0.4 points lower than the 63.7 recorded in the third
quarter of 2023. The gradual decline from June
continues with a slow-but-steady fizzling of economic
vibrancy, which began in the first quarter of 2023. The
drop is driven by increasing warehousing metrics and
increasing transportation metrics (with the exception of
transportation prices).
On the other hand, inventory levels (58.25) have declined
slightly from the previous 58.85, while inventory cost has
also dropped to 79.90 from the previous quarter’s 81.68.
It is interesting to note that this quarter has recorded the
lowest transportation price metric value, at 88.50, since
the inception of the LMI.
Researchers at the Centre for Applied Research and
Innovation in Supply Chain – Africa (CARISCA) issued
this report today.
The overall LMI score is a combination of eight distinct
metrics that make up activities in the logistics sector:
inventory levels and costs; warehousing capacity,
utilization and prices; and transportation capacity,
utilization and prices. A diffusion index, with a range
between 1 and 100, is used to calculate the overall LMI.
A reading above 50.0 indicates that logistics activities
are expanding while a reading below 50.0 reflects a
contraction of logistics activities.
The LMI summarizes the responses of supply chain
(including operations) managers from multiple industries
in Ghana. Data for the fourth quarter was collected from
October to December 2023.