Growth in private sector business activity in the United Arab Emirates picked up in September from a 15-month low, but the improvement was minor, a purchasing managers' survey showed on Tuesday.
The HSBC UAE Purchasing Managers' Index (PMI), which measures the performance of the OPEC member's manufacturing and services sectors, rose to 52.11 points from August's 50.95, the survey of 400 private sector firms showed. The 50-point level separates growth from contraction.
"It's good to see a pick-up in the headline index after four consecutive months of decline, particularly as the gain was driven by strong growth in new orders," said Simon Williams, chief economist for the Middle East and North Africa at HSBC.
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