Qatar Non-Oil Private Sector Growth Eases

Qatar’s S&P Global Purchasing Managers’ Index (PMI) declined to 51.5 in September 2025, down from August's 51.9, indicating a softer pace of non-energy private sector growth. The index was below the long-run average since 2017 (52.2). The moderation in growth was driven by a decrease in new orders and shorter suppliers' delivery times. Output grew for the fourth time in the past six months. However, the rate of growth was modest, as sub-sector data showed a renewed decline in construction activity. Employment increased for the tenth consecutive month, while backlogs of work rose at the slowest rate in the current sequence. Regarding prices, input cost inflation accelerated, while output price inflation rose to a four-month high, with charges for goods and services increasing for the first time since July 2024. Lastly, business sentiment weakened but remained only slightly below the survey's long-run trend.

Qatar’s S&P Global Purchasing Managers’ Index (PMI) declined to 51.4 in July 2025, down from June’s three-month high of 52.0, indicating a softer pace of non-energy private sector growth. However, the index remained slightly above the 2025 trend level of 51.2. The moderation in growth was driven by a faster decline in new orders, slower output growth, and quicker supplier delivery times. Output rose only slightly. These factors were partially offset by stronger employment growth and an increase in input inventories, with job creation reaching the second-highest level on record. Meanwhile, backlogs of work increased despite the sharp rise in staffing levels. On the price front, selling prices fell for the twelfth consecutive month, with the rate of deflation accelerating to its fastest pace since September 2024. Finally, business sentiment weakened to a one-year low.

Qatar’s S&P Global Purchasing Managers’ Index (PMI) rose to 52.0 in June 2025, up from 50.8 in May, signaling the fastest growth in the non-energy private sector since March. The latest reading matches the highest level recorded so far in 2025, although it remains slightly below the long-run survey average of 52.2. Output continued to expand, while employment rose, with the pace of job creation reaching the joint-third highest on record. Employment growth was observed across all sectors, led by manufacturing. The rise in staffing levels was supported by a further increase in outstanding business, the sharpest since last October. Wage growth was also notable, recording the second-highest increase on record, just behind January. On the price front, selling prices declined for the eleventh consecutive month, with the rate of deflation the fastest since last November. Looking ahead, business sentiment moderated and remained below the long-run survey average since 2017.