The private sector business activity in the UAE expanded modestly in March, after slipping to a two-month low in the previous month, data from a survey by suggests.
The HSBC UAE Purchasing Managers’ Index, or PMI, for the non-oil sector increased slightly to 52.3 in March from 52 in February. A PMI reading above 50 indicates expansion in the sector, while a reading below 50 suggests contraction.
The UAE firms saw output growth increase to 53.4 points from a five-month low of 52.5 in February, but new orders fell to a three-month low of 56.5 points in March, the survey showed.
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