UAE Business Activity Growth Hits Record High In Nov » Gulf Business:
"Business activity growth in the United Arab Emirates’ non-oil private sector accelerated to a record high in November as both output and new orders increased sharply, a purchasing managers’ survey showed on Wednesday.
The HSBC UAE Purchasing Managers’ Index, which measures the performance of both manufacturing and services, rose to 58.1 points in November from 56.3 in the previous month.
The adjusted index remains above the 50-point mark which separates growth from contraction, the survey of 400 private sector firms showed.
“The reading is impressive, but not unexpectedly so,” said Liz Martins, senior economist at HSBC. “With the announcement that Dubai will host Expo 2020, and improved sentiment around the geopolitical situation, there is ample reason to believe that the strong performance seen in the UAE in 2013 will continue into 2014.”"
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