Qatar: Non-energy PMI notches eight-month high in May
The Qatar Financial Centre Composite non-energy private-sector Purchasing Managers’ Index (PMI) rose to 53.6 in May from 52.0 in April, reaching an eight-month high. 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.
The key drivers behind the latest PMI reading included faster growth in new orders. Moreover, the surge in demand led to the quickest expansion in total business activity since last August, with all four sectors tracked by the PMI survey posting quicker expansions. Meanwhile, employment increased for the fifteenth successive month, reflecting companies’ efforts to speed up the delivery of high-quality services and incorporate new technologies.
Regarding prices, inflationary pressures remained muted in May, with input prices broadly unchanged and output charges increasing only modestly since April. Lastly, business optimism improved, with the 12-month outlook strengthening due to development plans, marketing campaigns, and the introduction of new high-quality products and services.