Business activity in the non-oil sector in the UAE grew on Wednesday, with new orders increasing at the fastest pace in four years. The seasonally adjusted Standard & Poor's Global Purchasing Managers' Index (PMI) for the UAE rose from 55.5 in May to 56.9 in June, remaining significantly above the neutral level of 50 that separates growth from contraction. The sub-index for new orders jumped to 61, supported by increased customer demand driven by competitive pricing and promotional offers.
Rapid Growth of the UAE's Non-Oil Sector
Share
