Dubai – Mubasher: The UAE’s non-oil sector reported weak growth in February, as output growth and job creation took a sluggish pace, according to a survey, sponsored by Emirates NBD and produced by IHS Markit, released on Monday.
Headline Purchasing Manager’s Index (PMI) declined to 55.1 points during the previous month versus 56.8 in the first month of 2018, the survey found.
The eased growth dragged down business confidence; however, new business’ inflows remain strong.
“The February PMI survey shows a solid rate of growth in the UAE’s non-oil private sector, although it was slower than we have seen in recent months,” head of MENA Research at Emirates NBD Khatija Haque commented.
Furthermore, the demand remained high during February, as exports rise for the third successive month, IHS Markit stated.
“Input price inflation eased since the preceding survey. Despite the rate of inflation being solid overall during February, it fell below the long-run average,” the survey revealed.
