Growth in the United Arab Emirates’ non-oil private sector slowed in June with weaker job creation and an easing in output growth, a survey showed on Wednesday.
The seasonally-adjusted S&P Global UAE Purchasing Managers’ Index fell to 54.6 in June from 55.3 in May, the lowest since February 2023, although still well above the 50.0 breakeven mark and indicative of a robust expansion.
“The UAE PMI highlights a slowing growth trend in the non-oil sector throughout 2024 so far,” said David Owen, Senior Economist at S&P Global Market Intelligence.
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“Nevertheless, companies are still enjoying strong customer demand and robust sales pipelines, which are sustaining output expectations and driving purchasing activity,” Owen said.
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