UAE’s non-oil private sector growth slows

The UAE on-oil private sector expanded at a slower pace in November, data from a survey by Markit Economics and HSBC Bank showed on Monday.

The purchasing managers’ index, or PMI, for the non-oil private sector, which measures the performance of the country’s manufacturing and services sectors, dropped to 52.5 in November from 53.4 in October.

A PMI reading above 50 indicates expansion, while one below suggests decline.

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