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Tribune News Network
Doha
Qatar witnessed a further increase in employment in February, building on January’s strong round of recruitment, according to the latest Purchasing Managers Index (PMI) survey of Qatari non-hydrocarbon private sector businesses.
The PMI survey by Qatar Financial Centre (QFC) found there was an elevated degree of confidence regarding the 12-month outlook for growth of total business activity, with 71% of surveyed companies expecting output at their units to rise by February 2020.
Sheikha Alanoud bint Hamad al Thani, Managing Director, Business Development, QFC Authority, said, “February was another positive month for the Qatari private sector labour market, with employment increasing further on the back of January’s strong recruitment. Sustained workforce growth suggests firms are gearing up for greater workloads in the coming months, which is reflected in the forward-looking business expectations index being at its second-highest level yet recorded. Around 71% of survey respondents expect activity to rise over the next 12 months.
“While the underlying trend signifies resurgent growth, particularly compared to the fourth quarter of 2018, February’s PMI reading registered a slight dip from January’s six-month high.”
Business expectations remained strongly positive in February. The future output index rose sharply to the second-highest level since the survey started in April 2017, below only December 2018’s peak.
Around 71% of firms are forecasting growth, linked to expected new projects, new clients, new bids being approved and World Cup-related work, the survey found.
The PMI is calculated from five indices for output, new orders, employment, suppliers’ delivery times and stocks of purchases.
The index dipped to 48.5 in February from January’s six-month high of 50.5.
Average input prices increased at a faster rate in February. Purchase price inflation remained relatively weak, while staff costs rose at a stronger pace than the series trend. Companies continued to cut their own prices charged for goods and services. This, combined with higher staff costs, suggests downward pressure on margins, the survey found.
Doha
Qatar witnessed a further increase in employment in February, building on January’s strong round of recruitment, according to the latest Purchasing Managers Index (PMI) survey of Qatari non-hydrocarbon private sector businesses.
The PMI survey by Qatar Financial Centre (QFC) found there was an elevated degree of confidence regarding the 12-month outlook for growth of total business activity, with 71% of surveyed companies expecting output at their units to rise by February 2020.
Sheikha Alanoud bint Hamad al Thani, Managing Director, Business Development, QFC Authority, said, “February was another positive month for the Qatari private sector labour market, with employment increasing further on the back of January’s strong recruitment. Sustained workforce growth suggests firms are gearing up for greater workloads in the coming months, which is reflected in the forward-looking business expectations index being at its second-highest level yet recorded. Around 71% of survey respondents expect activity to rise over the next 12 months.
“While the underlying trend signifies resurgent growth, particularly compared to the fourth quarter of 2018, February’s PMI reading registered a slight dip from January’s six-month high.”
Business expectations remained strongly positive in February. The future output index rose sharply to the second-highest level since the survey started in April 2017, below only December 2018’s peak.
Around 71% of firms are forecasting growth, linked to expected new projects, new clients, new bids being approved and World Cup-related work, the survey found.
The PMI is calculated from five indices for output, new orders, employment, suppliers’ delivery times and stocks of purchases.
The index dipped to 48.5 in February from January’s six-month high of 50.5.
Average input prices increased at a faster rate in February. Purchase price inflation remained relatively weak, while staff costs rose at a stronger pace than the series trend. Companies continued to cut their own prices charged for goods and services. This, combined with higher staff costs, suggests downward pressure on margins, the survey found.
