UAE’s economic activity moderating as low oil prices filter into non-oil activity | GulfNews.com:
"The UAE’s economy is showing signs of slowing on the back of the sharply weaker oil price, which is filtering into the non-oil economy according to an economic research report from Abu Dhabi Commercial Bank (ADCB)
Factors such as softening real estate prices in Dubai, gradual fiscal tightening, and the strong dollar are also contributing to the slowdown in economic activity.
“We expect real GDP growth to decelerate in 2015 and 2016, though to remain comfortably positive. Interim indicators point to economic activity moderating in 2015, with the sharply weaker oil price filtering into the non-oil economy,” said Monica Malik, chief economist of ADCB."
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