Qatar Business: Qatar’s non-oil private sector grows moderately in Q4 – Gulf Digital News

Qatar Business: Qatar’s non-oil private sector grows moderately in Q4 – Gulf Digital News

The latest Purchasing Managers’ Index (PMI) survey data from Qatar Financial Centre (QFC) has signalled an overall moderation in the non-oil private sector at the start of the fourth quarter (Q4).

The rate of expansion in total activity remained marked, however, as firms prepare for an influx of sales in anticipation of the FIFA World Cup. New orders eased while purchasing activity also cooled. Meanwhile, firms trimmed their headcounts to a record degree in an effort to save on costs.

Prices data signalled improving profitability with a near-record uplift in selling charges alongside only a marginal increase in input costs.

Expectations were meanwhile boosted by the fast-approaching World Cup with sentiment at a two-year high in October.

Output expands robustly

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority: "The start of the fourth quarter revealed a cooling of business conditions in Qatar's non-energy sector. While output continued to expand robustly, firms reported a further softening in new orders.

“Subsequently, businesses were keen to make efficiency gains where they could and reduced their buying activity during the month. There were also efforts to scale back headcounts which reduced at the quickest rate in the survey's history.

"Looking ahead, the FIFA World Cup begins at the end of November