Qatar's non-oil private sector grows at two-year high in June
The Peninsula
Doha: Qatar s non energy private sector growth moved up a gear in June, according to the latest Purchasing Managers Index (PMI) survey data from Qata...
Doha: Qatar's non-energy private sector growth moved up a gear in June, according to the latest Purchasing Managers' Index (PMI) survey data from Qatar Financial Centre (QFC) compiled by S&P Global.
Output increased at the fastest rate for a year-and-a-half as new business growth accelerated, while companies continued to expand employment and the 12-month outlook remained strong. Inflationary pressures remained muted, with input prices up only slightly since May and prices charged for goods and services falling.
The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.
The headline Qatar Financial Centre PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers' delivery times and stocks of purchases.
The PMI registered 55.9 in June, up from 53.6 in May and signaled the strongest improvement in business conditions in the non-energy private sector economy since July 2022. It was also above the long-run trend level of 52.3 (since April 2017). The headline figure has risen five times in 2024 so far, and the 2.3-point increase in the PMI was among the largest registered over the past three years.
