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Financial News: UAE Non-Oil Private Sector Growth Accelerates In April

UAE Non-Oil Private Sector Growth Accelerates In April

05/03/2018 - 04:00:00 (RTTNews)

(RTTNews) - UAE's non-oil private sector activity expanded at an accelerated pace in April, survey figures from Emirates NBD and IHS Markit showed Thursday.

The headline Emirates NBD Purchasing Managers' Index, or PMI, climbed to 55.1 in April from 54.8 in March. Any reading above 50 indicates expansion in the sector.

"The improvement in business condition in the UAE in April was driven by strong output and new order growth, including a recovery in export orders," Khatija Haque, Head of MENA Research at Emirates NBD, said.

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