Qatar’s non-energy private sector grows in July – PMI

Qatar’s non-energy private sector showed growth in July 2024, as indicated by the Qatar Financial Centre Purchasing Managers’ Index (PMI).

The PMI dropped to 51.3 from June’s 55.9 but still signalled overall improvement. Both output and new orders grew robustly, aligning with long-term trends, and business confidence reached its highest level since September 2023.

Companies saw a notable reduction in backlogs, the fastest since January 2023, due to improved productivity. Cost pressures were muted with stable prices for goods and services, as higher purchase prices were offset by lower staff costs.

Despite a slight dip in private sector employment, mainly in construction, the sector reported a continuous rise in new business for the seventeenth time in 18 months, reflecting strong demand and effective business practices.

Attribution: Qatar Financial Centre PMI