S&P Global: Qatar’s non-energy sector grows in Nov. ’24

Qatar’s non-energy private sector showed robust growth in November, with the Purchasing Managers’ Index (PMI) rising slightly to 52.9, up from 52.8 in October, according to the Qatar Financial Centre (QFC) and S&P Global. This marked sustained expansion above the long-term survey average of 52.3 since 2017.

Business activity accelerated, supported by continued growth in new orders, improved market conditions, and strengthened client relationships. Purchase stock levels reached a survey-record high, while input cost inflation eased from October’s four-year peak. However, firms continued to cut prices to enhance competitiveness.

The labour market remained a standout, with near-record employment growth and significant wage increases as companies competed to attract skilled workers. Meanwhile, business optimism stayed robust, driven by expectations of economic development, international investment, and sectoral demand, particularly in real estate and construction.

Attribution: S&P Global

Subediting: M. S. Salama