Qatar Financial Centre PMI August Report

This report presents the findings of the Qatar Financial Centre Purchasing Managers' Index (PMI) for August 2024, compiled by S&P Global. It indicates a significant improvement in business conditions within Qatar's non-energy private sector, with the PMI rising to 53.1, surpassing the long-run average. The report details a robust increase in employment, marking the second-fastest job growth recorded, driven by heightened demand for goods and services. Notably, average wages rose at the fastest rate in the survey's history, contributing to overall cost inflation reaching a four-year high. The report outlines that the increase in new business orders has been consistent, with firms experiencing a solid expansion in output. Confidence in future business conditions has also improved, attributed to government policies and ongoing construction projects. The report further discusses trends in purchasing, inventories, and pricing, noting a decline in input stocks and an increase in purchase price inflation. Overall, the findings suggest a positive outlook for the non-energy sector in Qatar.