In December activity within private industry in the non-oil sector of the UAE climbed, even though growth hit a three month low point.
Expansion continued throughout December in the non-oil private sector of the UAE as fresh orders and output grew and job creation picked up to a steady rate.
Strong demand and poor exchange rates combined to boost the price of inputs, based on the HSBC UAE Purchasing Managers Index. The updated index was released this week.
December saw the PMI register 53.0, not much of a change from the 52.9 level recorded in November. The steady rate of this PMI which is adjusted seasonally is another indication that this sector is improving and healthy.
Even though the growth has slowed down to hit a three month low, the non-oil private industry in the UAE experienced a strong rise in activity throughout December.
Output expansion was the result of further increases in new orders, according to UAE businesses. From November the new receipts in UAE business climbed at a healthy, steady pace.Paul Holdsworth, Staff Writer, Gulf Jobs Market News