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| 05 September, 2018

Qatar's PMI falls 3.07% in August: report

The index, which focuses on the GCC country's non-oil private sector, recorded 50.4 in August

Photo used for illustrative purpose only.
A man walks on the corniche in Doha, Qatar, June 15, 2017.

Photo used for illustrative purpose only. A man walks on the corniche in Doha, Qatar, June 15, 2017.

REUTERS/Naseem Zeitoon

Mubahser: Qatar's Purchasing Managers’ Index (PMI) witnessed a 3.07% month-on-month drop in August.

The index, which focuses on the GCC country's non-oil private sector, recorded 50.4 in August, compared to 52 in July, according to a survey data.

Launched by Qatar Financial Center (QFC), the PMI was designed to give a single-figure snapshot of operating conditions in the non-oil and gas private sector.

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A reading above 50 indicates expansion, while a reading below that signals contraction. August reading shows a drop in the gas-rich country's economy.

The PMI reading showed a continuous development in Qatari firms, as they increased the number of employees, hitting the highest level since starting the survey in April 2017.

Source: Mubasher

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