Strengthening outlook for non-energy economy drives employment growth to series record high in September
The Peninsula
Strongest demand for financial services for over two years Sharpest increase in employment since thesurvey began in 2017 Record wage growth drive...
• Strongest demand for financial services for over two years • Sharpest increase in employment since the survey began in 2017 • Record wage growth drives overall cost pressures to the highest in over four years
Data were collected 12-23 September 2024
Doha, Qatar: The latest Purchasing Managers’ Index survey data from Qatar Financial Centre (QFC) compiled by S&P Global signalled a sustained growth in business conditions in Qatar's non-energy private sector in September. The 12-month outlook for activity strengthened to the highest since March 2023 as demand for goods and services continued to increase, leading to a build-up in outstanding business. Companies boosted capacity by increasing employment at a survey-record rate. In tandem, wage inflation also reached a record high. Overall cost pressures were the highest in over four years, but charges for goods and services fell sharply.
The Qatar PMI indices are compiled from survey responses from a panel of around 450 private sector companies. The panel covers the manufacturing, construction, wholesale, retail, and services sectors, and reflects the structure of the non-energy economy according to official national accounts data.
The headline Qatar Financial Centre PMI is a composite single-figure indicator of non-energy private sector performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.
