A good year for Qatar: Construction industry's business optimism at a three-year high
Qatar construction industry's business optimism in the second quarter of 2014 is at its highest for three years, according to a survey by a private index.
The BOI score of 54 for Q2 2014 was three points up from Q1 2014 and 13 points up from Q2 2013. Higher scores for selling prices, net profits and hiring drove the overall result for Q2 2014.
Dun and Bradstreet's Business Optimism Index (BOI) also reveals finance, real estate and business service sector has recorded their second highest optimism score since the first quarter of 2011.
Sponsored by the Qatar Financial Centre Authority (QFC Authority) in partnership with the Qatar Businessmen Association (QBA), the survey also reveals the score for the finance, real estate and business services sector was 18 points higher in Q2 2014 than in Q2 2013.
The sector’s rise stems from the strong Qatari economy, higher demand for insurance for new construction and an increase in savings and investment by a growing population.
Within this sector, the outlook for finance and insurance firms was stronger than for real estate and business services firms on volumes, new orders and profits.
The index for the consolidated non-hydrocarbon sector was 47 points, which was up seven points year-on-year but showed a decline of two points from Q1 2014.
The decline was mainly due to seasonal factors, specifically the impact of the coming summer season on sectors such as Trade & Hospitality and related services, such as event management. (MORE)