Decade of Business Growth at Risk for a Top Gulf Economy: Chart - Bloomberg:
Even before a showdown between Iran and the U.S. shook up the Gulf, business conditions in one of the region’s biggest economies had their worst showing after a decade of expansion. Demand has turned so weak that not even price discounting could help sales in the United Arab Emirates, according to IHS Markit. That’s left its U.A.E. Purchasing Managers’ Index for December barely above the threshold of 50 that separates growth from contraction, the lowest level since the data series began in August 2009.
Even before a showdown between Iran and the U.S. shook up the Gulf, business conditions in one of the region’s biggest economies had their worst showing after a decade of expansion. Demand has turned so weak that not even price discounting could help sales in the United Arab Emirates, according to IHS Markit. That’s left its U.A.E. Purchasing Managers’ Index for December barely above the threshold of 50 that separates growth from contraction, the lowest level since the data series began in August 2009.
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