Non-energy private sector expansion tempers in August – The Peninsula

Non-energy private sector expansion tempers in August – The Peninsula

Doha: The latest Purchasing Managers’ Index (PMI) survey data from Qatar Financial Centre (QFC) continued to indicate growth in the non-energy private sector in August. The rates of expansion in total activity, new work and purchasing activity all eased from those seen in July but were still strong by historical standards. At the same time, a renewed reduction in backlogs allowed firms to cut their headcounts and subsequently protect profit margins. In fact, overall input price inflation rose only slightly during the month, but strong demand allowed firms to hike their charges at the quickest rate in eight months during August.

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.

Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority said: “Companies in Qatar’s non-energy sector faced another month of bustling demand and strong output performance with the PMI still firmly in expansion territory in August. Rates of output and new order growth continued to ease but were still sharp by historical standards. Firms nevertheless protected their profit margins