Qatar’s non-oil sector sees steady growth
Dubai: Non-oil business activities in Qatar remained stable in September, despite a decline in the Purchasing Managers’ Index (PMI) from 53.1 in August to 51.7 as reported by Qatar Financial Centre.
The PMI is an indicator of economic health for manufacturing and service sectors.
The latest report from the Qatar Financial Center, compiled by S&P Global, indicates that September’s PMI readings reflect continued growth in the non-energy private sector.
The credit rating agency notes that PMI readings above 50 signify expansion in business activities, while readings below that threshold indicate contraction.
Strengthening the non-hydrocarbon sector is essential for Qatar as it seeks to diversify its economy and reduce its dependence on oil.
As part of the National Vision 2030, Qatar aims to gradually decrease its reliance on hydrocarbon industries and empower the private sector to further drive economic growth.
Related
Signs point to Israeli-Hamas ceasefire but no certainty
There were signs Sunday that a long elusive ceasefire to end fighting between Israel and the militant group Hamas in Gaza could be reached in the coming days,
Netanyahu and Biden discuss progress in Gaza ceasefire-for-hostages deal talks…
CNN — Israeli Prime Minister Benjamin Netanyahu has spoken with US President Joe Bid
Qatar Airways Sama: World’s First AI Cabin Crew Debuts on…
DOHA- Qatar Airways (QR) has introduced Sama, the world’s first AI-powered digital cabin crew member, making waves on social media. Sama, a vi
Qatar’s first Arabic-centric LLM AI takes spotlight in ‘AI in…
Speakers from Qatar Computing Research Institute speak during the second AI in Media Conference organized by Al Jazeera Media Institute on Saturday, January 11
