UAE non-oil private sector grows but employment slows down in Sept -PMI | Reuters
The United Arab Emirates' non-oil private sector continued to expand in September as recovery from the COVID-19 pandemic in the Middle East trade and tourism hub remained strong, although job creation slowed, a business survey showed on Tuesday.
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, dipped slightly to 53.3 in September from 53.8 in August, remaining well above the 50.0 mark that separates growth from contraction.
Coronavirus-related restrictions last year hurt vital sectors such as tourism, retail trading and transportation.
But the non-oil economy has been expanding since December on the back of a pick up in demand and a loosening of travel restrictions. The Gulf state is also set to get a boost from the Dubai Expo world fair, which began on Oct. 1.
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