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FinancialNews
05-01-23
Qatar’s retail, service industries grows due to FIFA World Cup 2022
(MENAFN) Qatar Financial Center’s most recent Purchasing Managers Index survey unveils quick expansion in business actions in December and November because of the FIFA World Cup.
Wholesale, retail, as well as service suppliers in Qatar recorded massive growth action causing a record overall surge in costs charged for goods and facilities.
Qatar’s PMI is a composite single-figure measure of non-energy private industry performance that is active from additional orders, production, employment, providers’ delivery times, as well as share of purchases.
The PMI increased for the second month rising from 48.8 in November to 49.6 in December indicating to a near-stabilization in total non-energy private industry business situations at the end of last year.
Non-oil private sector production surged for the thirtieth month in a row in December.
“The FIFA World Cup Qatar 2022 makes its mark on the Qatari economy in December, with another rapid increase in business activity fueled by the retail and services sectors. The December data round off a stellar 2022 with the Output Index and headline PMI trending at 69.0 and 57.7 respectively, the highest annual averages since the survey began in 2017,” Yousuf Al-Jaida, chief executive at QFC Authority, mentioned in an announcement.
MENAFN05012023000045014228ID1105386931
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