UAE non-oil private sector growth slowed in July, with the S&P Global UAE PMI falling to 53.7, the lowest since September 2021.

UAE non-oil private sector growth eased in July, with the S&P Global UAE Purchasing Managers' Index falling to 53.7, the lowest since September 2021. Business conditions improved at the weakest pace in nearly three years, but remained above the 50.0 neutral threshold. Price inflation accelerated with the fastest rise in input costs for two years, which were partially passed on to customers. Despite this, business confidence for the year ahead remains strong. The Dubai PMI dropped to its lowest level in two-and-a-half years, and job creation also scaled back. However, overall demand conditions remained favorable, with sales rising sharply and exports also increasing.

August 05, 2024
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