UAE’s PMI falls to 56.6 in January, lowest level in 5 months: S&P Global

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Mon, 2024-02-05 14:24

RIYADH: Slowdowns in new order growth and employment rates led the UAE’s Purchasing Managers’ Index to fall to 56.6 in January from 57.4 the previous month, a new survey showed.

The latest S&P Global PMI report disclosed that non-oil business activity in the country eased to a five-month low in January but remained above the 50 mark.

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

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