Qatar: Non-oil PMI falls in July
The Qatar Financial Centre Composite non-oil Purchasing Managers’ Index (PMI) fell to 51.3 in July from June’s 55.9. As a result, the index remained above the 50.0 no-change threshold, but signaled a softer improvement in non-oil private-sector operating conditions compared to the previous month.
The key drivers behind July’s continued improvement in operating conditions included a sustained increase in new business, which led to another robust expansion in total activity; output has now risen almost continuously for over four years. Meanwhile, thanks to improved productivity, companies successfully reduced the volume of outstanding orders at the fastest rate since January 2023.
Regarding prices, overall cost pressures in July were muted, with higher purchase prices partly offset by lower staff costs. Lastly, business confidence strengthened to a ten-month high, driven by firms’ plans for opening in new locations, adopting new technologies, investing in training, and employing the latest marketing strategies.