Mubasher: The UAE’s non-oil private sector showed improvement in January, according to a recent survey, sponsored by Emirates NBD and produced by IHS Markit.
The headline seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) showed a rise from 55.0 in December to 55.3 in January, the highest reading in six months since July 2016.
On the jobs level, a further increase in payroll numbers failed to lighten pressures on operating capacity; the rate of backlog accumulation was slight overall as the vast majority of monitored firms, accounting for 91%, remained unchanged in work-in-hand.
PMI was endorsed by a sharper increase in new work during January, as new business rising at the quickest rate in 16 months.
In response to growing new business, companies raised their payroll numbers for the ninth month in a row, according to the survey which contained original data collected from a monthly survey of business conditions in the UAE non-oil private sector.
“Anecdotal evidence highlighted promotional activities, increased client demand and stronger underlying economic conditions as key factors boosting growth of new business inflows,” the survey said.
Furthermore, growth of new export orders quickened to a 14-month high.
The survey clarified that the UAE non-oil private sector businesses remained optimistic towards the 12-month outlook for output at the start of the year.
