卡塔尔股票指数 (QE) 加自选

卡塔尔的标准普尔全球采购经理人指数（PMI）在2025年7月降至51.4，低于6月份的三个月高点52.0，表明非能源私营部门的增长速度放缓。然而，该指数仍略高于2025年的趋势水平51.2。增长放缓的原因是新订单下降速度加快、产出增长放缓和供应商交货时间加快。产量仅略有上升。这些因素被更强劲的就业增长和投入库存的增加部分抵消，创造的就业机会达到了有史以来的第二高水平。与此同时，尽管人员配备水平急剧上升，但积压的工作仍在增加。在价格方面，销售价格连续第12个月下跌，通货紧缩速度加速至2024年9月以来的最快速度。最后，商业信心跌至一年低点。

Qatar’s S&P Global Purchasing Managers’ Index (PMI) declined to 51.4 in July 2025, down from June’s three-month high of 52.0, indicating a softer pace of non-energy private sector growth. However, the index remained slightly above the 2025 trend level of 51.2. The moderation in growth was driven by a faster decline in new orders, slower output growth, and quicker supplier delivery times. Output rose only slightly. These factors were partially offset by stronger employment growth and an increase in input inventories, with job creation reaching the second-highest level on record. Meanwhile, backlogs of work increased despite the sharp rise in staffing levels. On the price front, selling prices fell for the twelfth consecutive month, with the rate of deflation accelerating to its fastest pace since September 2024. Finally, business sentiment weakened to a one-year low.

卡塔尔标准普尔全球采购经理人指数（PMI）从5月份的50.8升至2025年6月的52.0，标志着非能源私营部门自3月份以来增长最快。最新读数与2025年迄今为止的最高水平相匹配，尽管仍略低于52.2的长期调查平均值。产出继续扩大，就业增加，创造就业的速度达到有记录以来的第三高。所有行业都出现了就业增长，其中制造业领涨。未完成业务的进一步增长支撑了人员配置水平的提高，这是自去年10月以来的最大增幅。工资增长也很显著，创下有史以来第二高的增幅，仅次于1月份。在价格方面，销售价格连续第11个月下降，通货紧缩率为去年11月以来最快。展望未来，商业情绪有所缓和，自2017年以来一直低于长期调查平均水平。

Qatar’s S&P Global Purchasing Managers’ Index (PMI) rose to 52.0 in June 2025, up from 50.8 in May, signaling the fastest growth in the non-energy private sector since March. The latest reading matches the highest level recorded so far in 2025, although it remains slightly below the long-run survey average of 52.2. Output continued to expand, while employment rose, with the pace of job creation reaching the joint-third highest on record. Employment growth was observed across all sectors, led by manufacturing. The rise in staffing levels was supported by a further increase in outstanding business, the sharpest since last October. Wage growth was also notable, recording the second-highest increase on record, just behind January. On the price front, selling prices declined for the eleventh consecutive month, with the rate of deflation the fastest since last November. Looking ahead, business sentiment moderated and remained below the long-run survey average since 2017.

2025年第一季度，卡塔尔经济同比增长3.7%，而前一季度增长6.1%。非碳氢化合物经济增长5.3%支撑了这一持续势头，这得益于制造业（+5.6%）、建筑业（+4.4%）、房地产（+7.0%）以及批发和零售业（+14.6%）的增长。较小的行业也出现了强劲增长，包括住宿和餐饮服务（+13.8%）以及运输和仓储（+3.5%），反映了广泛的扩张和持续的旅游活动。这种持续的增长突显了国家政策和改革在加强商业环境和支持私营部门机会方面的成功。这也反映了公共和私营部门通过与卡塔尔2030年国家愿景相一致的第三个国家发展战略推动增长的坚定承诺。按季度计算，GDP同比增长0.3%。

Qatar’s economy expanded by 3.7% year-on-year in the first quarter of 2025, following a 6.1% increase in the previous period. The sustained momentum was supported by a 5.3% rise in the non-hydrocarbon economy, driven by gains in manufacturing (+5.6%), construction (+4.4%), real estate (+7.0%), and wholesale and retail trade (+14.6%). Smaller sectors also saw strong growth, including accommodation and food services (+13.8%) and transport and storage (+3.5%), reflecting broad-based expansion and sustained tourism activity. This consistent growth highlights the success of state policies and reforms in strengthening the business environment and supporting private sector opportunities. It also reflects the strong commitment of both the public and private sectors to drive growth through the Third National Development Strategy, aligned with Qatar’s National Vision 2030. On a quarterly basis, the GDP grew 0.3% compared to the prior period.

卡塔尔的标准普尔全球采购经理人指数从上个月的51.0上升到2025年3月的52.0，标志着2025年迄今为止非能源行业增长最快。尽管就业率从2月份的历史高点有所下降，但就业率仍在继续上升，将目前的就业创造序列延长至8个月，工资增长依然强劲。尽管建筑业的增长继续落后于制造业、服务业、批发和零售业的快速增长，但所有行业的劳动力增长仍然强劲。与此同时，由于新业务是四个月来增长最快的，积压的工作连续第七个月增加。关于价格，销售价格连续第八个月下跌，但幅度不大，工资涨幅是四个月来最小的。最后，由于对经济状况改善的预期，商业情绪有所改善，是过去两年中最高的。

Qatar’s S&P Global PMI increased to 52.0 in March 2025, up from 51.0 in the previous month, signaling the fastest growth in the non-energy sector in 2025 so far. Employment continued to rise, despite easing from February's record high, extending the current sequence of job creation to eight months, with wage growth remaining strong. Workforce growth remained strong in all sectors, although the increase in construction continued to lag the rapid gains seen across manufacturing, services, wholesale & retail. Meanwhile, the backlogs of work advanced for the seventh straight month, as the new business grew the most in four months. Regarding prices, selling prices fell for the eighth straight month, but only modestly, with salaries climbing the least in four months. Finally, business sentiment improved and was among the highest registered over the past two years, amid expectations of improving economic conditions.