Business activity growth in the United Arab Emirates' non-oil private sector rose to a six-month high in January because of a sharp increase in new orders, a corporate survey showed on Sunday.
The seasonally adjusted Emirates NBD UAE Purchasing Managers' Index, which covers manufacturing and services, rose to 55.3 last month from 55.0 in December. The 50-point level divides expansion from contraction.
"The January PMI data shows that output and new order growth remains strong, and the improvement in export demand last month is particularly welcome after a relatively soft 2016," said Khatija Haque, head of regional research at Emirates NBD.
Output growth slowed in January, to 61.0 from 62.7, but growth in new orders jumped to 59.0 from 56.2. Growth in new export orders accelerated to 55.1 from 52.8, and employment growth rose slightly.
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