UAE’s non-oil private sector growth remains steady as PMI hits 55

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Tue, 2023-09-05 09:25

RIYADH: The non-oil private sector in the UAE witnessed strong growth in August, with firms expressing increased confidence about the future outlook, an economy tracker showed.  

The latest S&P Global Purchasing Managers’ Index report revealed that the UAE’s PMI hit 55 in August, slightly down from 56 in July.  

Any PMI reading above 50 indicates growth of the non-oil sector, while readings below 50 signal contraction, according to S&P Global.  

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