Friday 4 May 2012

Economy gains pace after global slowdown - The National

Private-sector business activity in the UAE is growing at its quickest rate in almost a year, in the latest sign the UAE's non-oil economy is picking up speed.

HSBC's purchasing managers' index (PMI), which measures non-oil services and manufacturing, rose to a 10-month high last month, outpacing the euro zone and China.

But growth is still short of Saudi Arabia, the top regional performer, where businesses are benefiting from a large injection of government cash.

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