On Thursday, the Purchasing Manager’s Index (PMI) released survey data which shows UAE’s non-oil sector continuing to expand sharply in January. The report showed a high increase in new work led to a further significant increase in output in the non-oil sector
Strong sales in Expo 2020 had boosted the business activity once again within the nation along with a broad recovery in economic conditions from the pandemic.
IHS Markit UAE Purchasing Managers’ Index (PMI), which measures operating conditions in the non-oil private sector economy, fell from 55.6 in December to 54.1 in January.
The indices range between 0 and 100, with readings over 50 representing an overall improvement, and those below 50 representing a decrease.
The January PMI showcased a powerful improvement in operating conditions, which was the slowest seen since September last year
However, previous reports of the year-end of 2021 showed that after reaching the record high, the growth had begun to slow down as the rate of expansion in both activity and sales softened to its low of four months. This low was linked to the rise in Omicron cases that directly affected the customer’s spending.
