#UAE's non-oil business activity eases to 12-mth low in January | Reuters

UAE's non-oil business activity eases to 12-mth low in January | Reuters

Growth in the United Arab Emirates' (UAE) non-oil private sector slipped to a 12-month low in January, with weaker global economic conditions weighing on sentiment towards future activity, a survey showed on Friday.

The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) fell to 54.1 in January, easing slightly from 54.2 in December, and the lowest since January 2022.

The output sub-index remained unchanged from December at 58.8 but indicates continued strong expansion in non-oil private sector activity.

"The results showed that the non-oil sector remains in good health and in particular compares positively against a global economic slowdown towards the end of 2022," said David Owen, senior economist at S&P Global Market Intelligence.