Report: Remarkable Growth in Qatar's Private Sector

Published August 7th, 2018 - 09:33 GMT
The increase in business inflows was due to the correlation between the strength of demand. (Shutterstock)
The increase in business inflows was due to the correlation between the strength of demand. (Shutterstock)

Qatar's Purchasing Managers' Index (PMI) registered 52 points in July, rising from 51.8 points in the previous month.

The PMI of Qatar is issued by Qatar Financial Centre (QFC). It is concerned with the activity of non-oil private sector companies in the country.

According to QFC, the record increase in job creation and the remarkable growth in new applications, as well as the improvement in the confidence index to its highest level since the start of the study in April 2017, have all contributed to the results of July.

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Commenting on the results, Managing Director of Business Development at QFC Sheikha Alanoud bint Hamad al Thani said,"Business activity growth across the non-hydrocarbon private sector accelerated during July, reflecting stronger domestic economic conditions. 

"The latest QFC PMI also indicates the fastest increase in new hires since the survey began in April last year, with many local businesses linking job creation to improved optimism towards future growth prospects and marked inflows of new orders."

According to QFC, the main PMI for July indicated a moderate improvement in business conditions. This improvement was higher than the 51.5-point average registered since the beginning of the study, which shows that new business inflows increased significantly during July

QFC noted that the increase in business inflows was due to the correlation between the strength of demand, the improvement in economic conditions and promotional activity, which increased in July. Meanwhile, the level of trade confidence and employment rate reached record high in the same month.


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