UAE’s non-oil private sector growth improved in February, after easing to a 40-month low in the previous month, survey sponsored by Emirates NBD and produced by Markit said Thursday.
The seasonally adjusted NBD UAE Purchasing Managers’ Index, or PMI, rose to 53.1 in February from 52.7 in January.
Any reading above 50 indicates expansion in the sector. However, it was still below the series average of 54.5.
Both output and new orders grew at a faster pace in February. New export business also returned to growth during the month.
Employment level in the sector climbed at the sharpest pace in three months, though marginal overall.
On the price front, companies lowered their selling prices for the fourth straight month in February amid slowly rising input costs.
The material has been provided by InstaForex Company – www.instaforex.com