Arab Today, arab today uae’s nonoil private sector output on the rise
Last Updated : GMT 21:17:01
Arab Today, arab today
Arab Today, arab today

UAE’s non-oil private sector output on the rise

Arab Today, arab today

Arab Today, arab today UAE’s non-oil private sector output on the rise

UAE's non oil
Dubai - WAM

The Purchasing Manager's Index (PMI) for October showed that the non-oil private sector economy continued to indicate a marked improvement in business conditions in the final quarter of 2014, 'Gulf News' reported yesterday.
The PMI, compiled by HSBC and Markit Economics, is a composite indicator of UAE's non-oil economy based on data compiled from purchasing executives in approximately 400 private sector companies in the UAE.
The survey's headline figure remained well above the neutral threshold of 50 in November, posting 58, but was down from October's record 61.2.
"The PMI is showing a little softness, suggesting weaker oil prices and poor global demand are starting to weigh. But the score is down only from its very high base and remains firmly in expansionary territory. We remain upbeat on near term growth prospects in both Dubai and Abu Dhabi," said Simon Williams, Chief Economist for Middle East & North Africa at HSBC.
November saw the level of output in UAE's non-oil private sector economy increase, in line with the trend since February 2010. A number of companies commented on stronger demand and an associated rise in the number of new projects being started. The rate of growth eased from October's survey-record high to the slowest in three months, but nevertheless remained sharp overall.
A similar trend was evident for new business. Inflows of new work increased at a slower rate than October's record, but one that remained well in excess of the long-run survey average. New export orders rose at a faster rate during the month, with growth rebounding from October's nine-month low.
Non-oil private sector firms in the UAE continued to boost capacity to accommodate higher workloads in November. Purchasing and employment both rose, albeit at slower rates than the record highs posted in October. Stocks of purchases increased on average for the thirty-first consecutive month although, as with purchasing, the rate of growth eased from October's record.
Employment continued to rise in November but at a slower pace than October. Producer price pressures also eased, with the input price index falling to 52.3 last month, the lowest reading since June 2013. This was due to weaker growth in purchase costs as well as staff costs. Consequently output price growth also slowed. "The latest PMI data continues to reflect strong fundamentals in the non-oil sectors of the economy, notwithstanding the recent decline in oil prices," said Khatija Haque Head of MENA Research at Emirates NBD.
Inflationary pressures moderated in November. Overall input prices rose at the weakest rate since June 2013, having risen in October at the strongest rate since May 2012. Purchase price inflation hit a 22-month low in the latest period, while inflation of wages and salaries eased to the weakest since August. Meanwhile, average prices charged by non-oil private sector companies for goods and services rose for the second month running, albeit at a weaker rate.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae’s nonoil private sector output on the rise Arab Today, arab today uae’s nonoil private sector output on the rise

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae’s nonoil private sector output on the rise Arab Today, arab today uae’s nonoil private sector output on the rise

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday