Record growth in new orders helped to propel a measure of business confidence to its strongest level in 20 months in December, ensuring the economy entered the new year on a positive note.
Healthy exports growth and a surge in job creation also sustained the pickup within HSBC's purchasing managers index (PMI) survey of the non-oil private sector.
"While the UAE will still likely lag some of its neighbours, the economy enters 2013 at its most positive in five years," said Simon Williams, the chief economist for Middle East and North Africa at HSBC.
Positive start to new year ensured by new exports - The National
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