UAE’s February PMI gains on stronger output | GulfNews.com

UAE’s February PMI gains on stronger output | GulfNews.com:



"The UAE’s purchasing managers’ index (PMI) for February gained to 57.3 from 57.1 in January, signalling further solid expansions in output and new orders at the UAE’s non-oil private sector companies.



The index, compiled by HSBC and Markit Economics is a composite indicator of UAE’s non-oil economy based on data compiled from purchasing executives in approximately 400 private sector companies in the UAE.



The PMI data for February showed new export business rose at the quickest pace in the survey history and input costs increased at the slowest pace for six months. The data also showed that new export orders increased at the fastest pace since data collection began in August 2009, with more than one-in-four panelists reporting strengthening demand from foreign markets."



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