RIYADH: Qatar’s non-energy private sector continued to feel the impacts of the regional conflict in May, as new business inflows fell sharply, according to S&P Global.
The country’s Purchasing Managers’ Index dropped to 45.9 in May from 46.4 in April, pointing to a deterioration in business conditions, the ratings firm said.
The slowdown in Qatar’s non-energy sector growth is occurring against the backdrop of rising escalation triggered by the outbreak of war between the US and Israel against Iran in late February, which has increased economic uncertainty in the Gulf.
Saudi Arabia showed resilience in non-oil business activities across May, recording a PMI reading of 52.8, well above the 50-point threshold that separates expansion from contraction.
The UAE PMI for May stood at 52.6, followed by Kuwait at 47.2 and Egypt at 47.1.
