UAE private sector growth falls to nine-year low: PMI - Reuters:
Growth in the United Arab Emirates’s non-oil private sector slowed to a nine-year low in September, amid record low new orders reflecting soft demand, a survey showed on Thursday.
The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, fell slightly to 51.1, from 51.6 in August.
Although the non-oil sector remained in growth territory — figures above 50 indicate expansion and below that, contraction –- it was the UAE’s weakest growth rate since May 2010.
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