Surge in non-oil business raises the UAE’s PMI: S&P Global

RIYADH: An increase in new orders, backed by rising customer demand and softening prices, resulted in a surge in non-oil business activity in the UAE in April, revealed an economy tracker. 

The latest S&P Global Purchasing Managers’ Index report noted the UAE’s PMI rose to 56.6 from 55.9 in March, signaling further growth in the Gulf state’s non-oil economy. 

According to the report, PMI readings above the 50-mark show non-oil private sector growth, while those below signal contraction.