UAE non-oil private sector keeps growing in April - PMI | Reuters
Business conditions in the United Arab Emirates non-oil private sector continued to improve in April, with new business growth reaching a 20-month high, a survey showed on Tuesday, as the Gulf state's economy recovers from the COVID-19 pandemic.
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, edged up to 52.7 in April from 52.6 in March.
This was its highest level since July 2019 and the fifth consecutive month it has held above the 50.0 line that separates growth from contraction.
"The UAE non-oil economy remains on the right track to a recovery from COVID-19," said David Owen, economist at IHS Markit.
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