Qatar: Non-energy PMI rises in June
The Qatar Financial Centre non-energy Purchasing Managers’ Index (PMI) rose to 55.9 in June from 53.6 in May. As a result, the index moved further above the 50.0 no-change threshold, and signaled a faster improvement in non-energy private-sector operating conditions compared to the previous month.
June’s PMI surge was primarily driven by accelerated growth in output and new business, with the fastest increase in activity seen in a year and a half and new business growth at its sharpest in 13 months. This uptick was supported by higher customer numbers, promotional activities, and increased client trust. Meanwhile, employment growth was sustained for the sixteenth consecutive month, reflecting ongoing business expansion and the need for highly skilled staff across various sectors.
Despite the accelerated business expansion, inflationary pressures remained subdued, with only a slight increase in input prices and a reduction in prices charged for goods and services. Finally, business sentiment remained positive, buoyed by expectations of new branch openings, an influx of new customers, and effective marketing campaigns.