UAE non-oil sector sees weak rebound in September - PMI | Reuters:
The United Arab Emirates’ non-oil private sector swung back to growth in September, a survey showed on Monday, but firms continued to shed jobs amid cash flow issues and concerns over renewed restrictions to contain the novel coronavirus.
The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, rose to 51.0 in September from 49.4 in August, going above the 50.0 mark that separates growth from contraction for the third time in four months.
This was the highest reading for 11 months but was still well below its 54.1 average last year.
New orders grew in September as companies offered larger discounts and activity picked up due to an increase in consumer demand amid softer coronavirus-related restrictions.
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