AGL 38.30 Increased By ▲ 0.73 (1.94%)
AIRLINK 132.00 Decreased By ▼ -0.50 (-0.38%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.84 Increased By ▲ 0.07 (1.86%)
DCL 8.65 Decreased By ▼ -0.22 (-2.48%)
DFML 40.82 Decreased By ▼ -0.18 (-0.44%)
DGKC 88.70 Decreased By ▼ -1.46 (-1.62%)
FCCL 35.20 Increased By ▲ 0.12 (0.34%)
FFBL 66.41 Decreased By ▼ -0.09 (-0.14%)
FFL 10.48 Increased By ▲ 0.33 (3.25%)
HUBC 109.60 Increased By ▲ 3.20 (3.01%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.82 Decreased By ▼ -0.04 (-0.82%)
KOSM 7.08 Increased By ▲ 0.23 (3.36%)
MLCF 42.46 Increased By ▲ 0.66 (1.58%)
NBP 59.49 Increased By ▲ 0.91 (1.55%)
OGDC 184.21 Increased By ▲ 2.96 (1.63%)
PAEL 25.56 Decreased By ▼ -0.14 (-0.54%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.50 Decreased By ▼ -0.90 (-0.61%)
PRL 23.55 Increased By ▲ 0.33 (1.42%)
PTC 16.45 Increased By ▲ 1.21 (7.94%)
SEARL 69.18 Increased By ▲ 0.39 (0.57%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.80 Decreased By ▼ -0.20 (-0.56%)
TPLP 7.55 Increased By ▲ 0.15 (2.03%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.98 Increased By ▲ 0.13 (0.26%)
UNITY 26.83 Increased By ▲ 0.43 (1.63%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,828 Increased By 60.4 (0.62%)
BR30 29,808 Increased By 407.9 (1.39%)
KSE100 92,322 Increased By 384 (0.42%)
KSE30 28,803 Increased By 59.4 (0.21%)

ABU DHABI: Non oil business activity in the United Arab Emirates accelerated in February after a slowdown the previous month, helped by a rise in output and business confidence, a survey showed on Tuesday.

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index rose to 57.1 in February from 56.6 in January.

The output sub-index surged to 64.6 from 62.0 in January, the highest figure since June 2019, lifted by new business, stronger client activity and marketing activities.

“Capacity pressures were apparent however, with backlogs of work rising at their fastest pace in nearly four years, as Red Sea shipping disruption fed through into transport delays,” said David Owen, senior economist at S&P Global Market Intelligence.

Attacks on vessels in the Red Sea by the Iran-aligned Houthis have disrupted global shipping since November and forced firms to re-route journeys which are longer and more expensive.

UAE’s non-oil trade hit record 3.5 trillion dirhams in 2023

There had been no impact on the UAE so far, its trade minister said last month.

The new orders sub-index slowed to 60.4 in February, from 61.9 the month before, and while this still signals strong demand, the pace of growth was the weakest since last August, which some respondents attributed to greater competition.

Confidence in the outlook over the next 12 months accelerated to a four-month high, supported by stronger market conditions, higher profits, and new client projects, the survey said.

Comments

Comments are closed.