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Financial News: UAE Non-Oil Private Sector Growth Hits 34-Month High

UAE Non-Oil Private Sector Growth Hits 34-Month High

01/04/2018 - 01:54:00 (RTTNews)

(RTTNews) - UAE's non-oil private sector activity expanded at the fastest pace in nearly three years in December, survey figures from Emirates NBD and IHS Markit showed Thursday.

The headline Emirates NBD Purchasing Managers' Index, or PMI, climbed to 57.7 in December from 57.0 in November. Any reading above 50 indicates expansion in the sector.

Steep expansions in output, new orders alongside solid export demand growth underpinned the most recent upturn.

On the price front, input cost pressures softened during December, whilst selling prices fell for the fourth month running.

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