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Wednesday, 3 May 2017

UAE PMI signals strong growth in April | GulfNews.com

UAE PMI signals strong growth in April | GulfNews.com:

"The UAE Purchasing Managers’ Index was broadly unchanged in April at 56.1, compared with March’s 19-month high of 56.2. Output and new orders growth remained very strong although slightly slower than March. The latest survey data showed that business conditions across non-oil private sector firms in UAE continued to improve at the start of the second quarter. Employment rose in April but the rate of growth remains weak, with just 5.2 per cent of firms surveyed reporting higher employment last month. The majority of firms kept employment unchanged in March despite continued new orders growth. As a result, the backlogs of work continued to rise in April, but at a slower rate than March. “The UAE PMI remained little changed in April from March, at both a headline level and in terms of the detail. The PMI shows that while overall activity was firm going into the second quarter, companies are still facing significant challenges as job creation remains subdued and pricing power is limited,” said Tim Fox, Head of Research and Chief Economist at Emirates NBD. "



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