The UAE non-oil private sector economy saw a rise in business activity in December, supported by a faster upturn in sales and a strong increase in export demand. Nevertheless, job numbers continued to fall and at an accelerated rate, as backlogs declined, according to IHS Markit.
Its Purchasing Managers’ Index – a composite indicator designed to give an overview of operating conditions in the non-oil private sector economy rose from 49.5 in November to 51.2 in December, indicating an improvement in the sector's performance.
Price pressures remained weak in December, while the outlook for future activity improved only slightly from November's record low, according to the PMI survey conducted by IHS Markit.
Despite rising to its highest level for 16 months, however, the rate of growth signalled by the index was only mild, it said.
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