"According to the HSBC United Arab Emirates PMI™, the UAE's non-oil producing private sector companies reported a further increase in output levels in April. While new orders continued to rise sharply, the rate of increase eased to the slowest in a year. Meanwhile, employment levels rose at the fastest pace in two years.
The seasonally adjusted HSBC United Arab Emirates PMI™ - a composite indicator designed to provide a single-figure snapshot of the performance of the non-oil private sector - posted 54.0 in April, down slightly from 54.3 in March, and pointed to a further improvement of operating conditions in the UAE. While April data marked the forty-fourth successive improvement, the latest reading was the lowest in five survey periods.
Output levels in the UAE's non-oil producing private sector rose further during the latest survey period. Increased incoming new business and improving market conditions were cited by panellists as having contributed to the latest rise."
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