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Financial News: UAE Non-Oil Private Sector Growth Slows In June

UAE Non-Oil Private Sector Growth Slows In June

07/05/2021 - 07:11:00 (RTTNews)

(RTTNews) - The UAE non-oil private sector growth eased marginally in June, survey results from IHS Markit showed Monday.

The Purchasing Managers' Index fell to 52.2 in June from 52.3 in March. A score above 50 indicates expansion.

Output growth remained unchanged in June and new order inflow increased. Suppliers' delivery time lengthened.

Purchasing prices increased at the fastest pace in three months in June.

New orders increased in June and client demand improved. Staffing increased for the first time since January and backlogs of work declined.

"As a result, the pace of output growth remained far off the average level seen since data collection began in 2009, leaving business expectations relatively subdued despite another uplift since May," David Owen, an economist at IHS Markit, said.

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