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
Biden speaks with Israel’s Netanyahu, urges ‘immediate ceasefire’ in Gaza
United States President Joe Biden has spoken to Israeli Prime Minister Benjamin Netanyahu about the ongoing talks for a ceasefire in Gaza and stressed the “im
Biden, Netanyahu discuss Gaza cease-fire negotiations – UPI.com
U.S. President Joe Biden meets with Israeli Prime Minister Benjamin Netanyahu for a bilateral meeting in the Oval Office at the White House on July
Vance: Trump will let IDF ‘knock out’ Hamas, if hostages…
Vice president-elect J.D. Vance revealed the true meaning behind President-elect Donald Trump's threat that "all hell will break loose" if the hostage
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,
