The UAE's non-oil private sector saw a strong improvement in business conditions in February. The pace of growth remained close to a nine-month high recorded in December, driven by a marked rise in new business, which led to a significant rise in output. Despite a strong increase in input inventories, labour-related constraints and delays in payments led to a further increase in backlogs.
S&P Global's seasonally adjusted UAE headline purchasing managers' index (PMI) – a composite index designed to give an accurate overview of operating conditions in the non-oil private sector economy – remained at 55.0 points in February, indicating a sharp improvement in conditions in the non-oil economy. The index was slightly above its long-term average of 54.4 points.
Source (Al-Khaleej Emirati Newspaper, Edited)
