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Sunday, 5 March 2017

UAE PMI at 17-month high on higher output and demand | GulfNews.com

UAE PMI at 17-month high on higher output and demand | GulfNews.com:

"The non-oil private sector economic activity in the UAE witnessed further improvement last month supported by sharp increase in inflows of new work and a robust expansion of output. The Emirates NBD Purchasing Managers’ Index (PMI) rose to 56 in February from 55.3 in January, a level last seen in September 2015. Strong demand conditions and a favourable economic environment encouraged companies to scale up purchasing activity and hire additional workers over the month. The main driver for the improvement in PMI was a surge in output (63), which expanded at the fastest rate in 18 months. New orders (59.9) also rose at a faster pace in February, supported by improving external demand."



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