The Qatar Financial Centre (QFC) has launched a new PMI (Purchasing Managers’ Index) for the non-oil private sector, compiled by IHS Markit, a world leader in critical information, analytics and solutions.
The PMI series produced by IHS Markit is one of the most closely watched signals of business activity and is valued worldwide by central banks, financial markets and business decision makers for providing timely and often unique monthly indicators of economic trends.
The indices are based on monthly surveys of more than 28,000 senior business executives to quantify variables such as output, new orders, employment and prices. Qatar marks the 43rd country covered by the global PMI series from IHS Markit.
“The PMI survey is an integral tool that will provide a monthly snapshot of the health of Qatar’s economy, enabling us to closely watch the trend of economic activity. We look forward to seeing the results of each survey, which will help economists and businesses around the globe track and analyse business conditions,” according to Dr Haitham al-Salama, chief economic adviser, QFC.
Richard Willis, executive director, at IHS Markit, said the series will quickly become the barometer against which the performance of the nation’s private sector is monitored.
The QFC Qatar PMI will be released at 09:00 Qatar local time on the third working day of each month. The first Qatar PMI report that will consist of April data will be released on May 3.
Al-Salama: Closely watched trend.
