The UAE's purchasing managers' index (PMI), a composite indicator of the performance of the non-oil private sector, slipped slightly from 52.4 in January to 52 in February.
The index, compiled by HSBC Holdings and Markit Economics, signalled a further modest improvement in the operating conditions of the UAE non-oil private sector. Reflecting cautiously optimistic sentiment, output was up moderately despite robust expansion in new orders.
"The ‘whole economy' PMI index, which includes private sector services and manufacturing but not oil, fell in February. This is still higher than December's reading of 51.7 and above the critical 50 mark which, in theory at least, separates expansion from contraction," said Hirsh Middle East Economist in an emailed comment.
No comments:
Post a Comment