Monday , October 22 2018

UAE’s non-oil private sector growth slows

Dubai / Emirates Business

The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE declined to 55.8 in July from 57.1 in June, signalling the slowest rate of growth in the non-oil private sector in three months.
“Both output and new work, while still strong, were softer than in June. Notably, new export orders increased at the sharpest rate in three years, as firms reported stronger demand from other GCC countries and Europe,” said Khatija Haque, Head of MENA Research at Emirates NBD.
The July data from the Emirates NBD Purchasing Managers’ Index (PMI) for the UAE was released on Sunday. The survey, compiled by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.

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