The UAE’s non-oil private sector growth quickened in April, underpinned by faster increases in output, new orders and employment, the results of a survey by Markit Economics and HSBC Bank showed Tuesday.
The HSBC UAE purchasing managers’ index, or PMI, rose to 56.8 in April from previous month’s 17-month low of 56.3. Any reading above 50 indicates expansion in the sector.
Output growth in the non-oil private sector was solid in April, led by new marketing initiatives that had helped to strengthen demand conditions.
New orders continued to rise in April, in line with the growth trend of output. New export orders also increased notably, amid reports of new client wins in international markets.
Companies raised their payroll numbers further in April, thereby marking a 40-month period of job creation.
On the price front, input prices climbed in April, having fallen for the first time in five years in March. In contrast, firms cut their selling prices, due to competitive pressures and efforts to attract new clients.
The material has been provided by InstaForex Company – www.instaforex.com