UAE non-oil private economy continues solid growth in November - PMI | Reuters
The United Arab Emirates' non-oil private sector notched its 12th consecutive month of growth in November, slightly outpacing the prior month, when it expanded at its fastest rate in more than two years, a survey showed on Tuesday.
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), inched up to 55.9 in November from 55.7 in October, which was its highest since June 2019 - boosted by Dubai hosting the Expo world fair.
The continued improvement in business conditions is a marked turn from last year, when the UAE's PMI recorded just four months of expansion as the pandemic pummelled tourism, aviation and other key sectors of the economy.
"The upturn was supported by marked expansions in output and new business volumes midway through the fourth quarter," IHS said in the PMI report.
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