PMI rises sharply in September, pointing to fresh momentum in non-energy private sector

8 Oct 2019

PMI by IHS Markit

Doha, Qatar

Under the patronage of the Ministry of Commerce and Industry, The Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, hosted the second annual Qatar Business Awards following the success of last year's inaugural edition. 


The event brought together Mr. Yousuf Mohamed Al-Jaida, Chief Executive Officer of the Qatar Financial Centre and Mr. Hamad bin Mohammed Al Abdan, Director of the Business Development and Investment Promotion Department at the Ministry of Commerce and Industry, along with a number of officials and senior executives from major Qatar-based companies.


The 2019 Qatar Business Awards was open to organisations that uphold a commitment to providing exceptional business services and innovation to their customers, partners, suppliers, as well as employees. This year's winners include Al Rayan Investment for best performing company of the year, Apparel Qatar for best employer of the year, CFA Society Doha for best non-profit of the year, Qatar SportsTech for most innovative company of the year, EPROJECTS for new business of the year, K&L Gates for best law firm of the year, Clyde & Co for corporate social responsibility programme of the year, PwC for best local partner of the year, Allianz Care for best customer service platform of the year, and Alfardan Group for the special recognition award.


Raed Al-Emadi, Chief Commercial Officer, QFC Authority

The PMI signalled returning growth momentum in Qatar's non-energy economy in September. Moreover, the headline figure posted a steeper gain than in August. The overall rise during the past two months of 3.8 points is the largest observed since September-October 2017. The three main components of the PMI – new orders, output and employment – also posted steeper gains in September.

Firms highlighted new projects and work related to the 2022 World Cup as driving new business, and this also underpinned stronger expectations for output over the next 12 months. The Future Activity Index surged to the highest in 2019 so far and the second-highest on record.

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