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Financial News: UAE Non-Oil Private Sector Growth Eases In September

UAE Non-Oil Private Sector Growth Eases In September

10/03/2017 - 04:08:00 (RTTNews)

(RTTNews) - UAE's non-oil private sector activity continued to expand strongly in September, though the rate of growth eased since August, survey figures from Emirates NBD and IHS Markit showed Tuesday.

The headline Emirates NBD Purchasing Managers' Index, or PMI, dropped to 55.1 in September from August's 30-month high of 57.3. However, any reading above 50 indicates expansion in the sector.

Moreover, growth remained strong overall and steeper than the survey's historical average.

Both output and new orders registered sharp rises in September. Meanwhile, new export business slipped back to contraction, indicating that the recovery was driven by domestic demand.

Employment growth eased since August and was only slight overall.

On the price front, input price inflation softened to a four-month low in September, while firms dropped their selling prices to increase competitiveness.

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