UAE non-oil private sector growth eases further in December -PMI | Reuters
Growth in the non-oil private sector in the United Arab Emirates slowed for a second consecutive month in December, while output growth slid to a 15-month low, a survey showed on Wednesday.
The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) fell to 54.2 in December from 54.4 in November, in line with the series average.
"The slowdown reflected downward movements in three of the PMI's largest components, with output and new business growth both easing to 15-month lows, whilst employment rose at the softest rate in eight months," said David Owen, economist at S&P Global Market Intelligence.
"While domestic demand conditions are holding up relatively strong, weakness in the global economy led to a first decrease in new export business since August 2021."
No comments:
Post a Comment