Private sector performance in the United Arab Emirates continues to recover strongly

According to the IHS Markit Purchasing Managers’ Index, although growth was slower than in the fourth quarter of 2021, growth in the non-oil sector in the UAE accelerated in February as demand increased and production increased significantly.
The seasonally adjusted UAE PMI rose to 54.8 in February from 54.1 in January.
This code was supported by the holding of the World Exhibition in Dubai, which began in October.
“As Expo 2020 continues and countries ease their travel restrictions and companies point to the growth of the tourism sector, this increase is related to increased customer demand,” said David Owen, an economist at IHS, which prepared the survey.
He added, “Although production grew sharply in February, companies have not yet reported enough production capacity to cope with new orders, coupled with a decline in employment speeds and difficulties affecting global distribution.”
The manufacturing sub-index rose to 60.6 in February from 59.6 in January. Employment activity has declined slightly above the 50 level separating growth from contraction.
Although inflation has been at an all-time low since November, rising input costs for companies have risen as raw material and transportation prices have risen.
“Companies point out that despite the global supply chain turmoil, local suppliers are increasing their capacity to deal with these problems,” the report said.
The business sentiment for the coming year, which is included in the futures production sub-index, has improved the most since October and is the second strongest since mid-2020.

  • Bill Dittman

    "Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

    Related Posts

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    As a popular business-friendly destination, the United Arab Emirates has had an impressive economic growth rate which has attracted more job seekers as well as business investors to the region.…

    How to Choose the Right Mattress: Find the Best Fit for You

    Quality sleep is something that many people aren’t getting enough of nowadays. There are sleep disorders such as sleep apnea and insomnia that can negatively affect your health.  Your busy…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space