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FinancialNews
04-01-18
UAE hit sharp growth after pre-VAT purchase wave
(MENAFN) According to Emirates NBD's quarterly purchase managers index (PMI), the UAE non-oil private sector has seen a major growth in 2017 last seen three years, after a purchase epidemic hit the country before VAT was implemented January 1st.
The PMI conducts surveys of 400 purchasing executives of the country's non-oil private sector as it collects into an index their response on inventory, orders, employment expansion, latest business and delivery schedules.
MENA Research chief at Emirates NBD Khatija Haque declared "the UAE's non-oil sector [private] expanded sharply in the last two months of the year, largely due to a strong rise in output and new orders. It is likely that the introduction of VAT in January has spurred activity and purchasing in Q4 2017, which is in line with our expectations."
MENAFN0401201800450000ID1096308188
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