UAE private sector growth falls to 10-year low in November: PMI - Reuters:
Growth in the United Arab Emirates’ non-oil private sector slowed to a 10-year low in November and firms experienced the first monthly decline in new orders on record, a survey showed on Thursday.
The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, fell to 50.3 from 51.1 in October.
Although the non-oil sector remained in growth territory — a reading above 50 indicates expansion and below, contraction — it was the UAE’s weakest growth rate since August 2009.
The survey data showed the first month-on-month decline in new business at UAE non-oil companies in the series history, though the overall reduction was marginal.
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