UAE private sector growth speeds up in November, output jumps: PMI:
"Growth of the United Arab Emirates’ non-oil private sector accelerated in November because of a sharp increase in output, a survey of companies showed on Tuesday. The seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index, which covers manufacturing and services, rose to 57.0 last month from 55.9 in October. Above 50 indicates expansion and below shows a contraction. Khatija Haque, head of regional research at Emirates NBD, said the November data confirmed growth was likely to be strong in the fourth quarter as households and businesses bought more goods before the introduction of a 5 percent value-added tax in January."
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