Mubasher: The UAE’s non-oil private sector regained some growth momentum in November, reversing the slowing trend seen in each of the prior three months.
Business conditions improved on the back of robust expansion of new work, according to a survey sponsored by Emirates NBD and produced by IHS Markit
Stronger demand led to an increase in purchasing activity and faster job creation.
Output also grew, yet at a slightly weaker pace than in October. And as for prices, charges continued to fall in spite of higher purchasing costs.
The seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) rose to 54.2 for the first time in four months during November, up from October’s six-month low of 53.3.
“The November PMI data is encouraging as it continues to point to strong activity growth in the UAE, even as external demand remains soft,” according to Khatija Haque, Head of MENA Research at Emirates NBD.
“However, the environment remains competitive, and margins continue to be squeezed by rising input costs and declining output prices,” Haque noted.
