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FinancialNews
05-08-19
UAE enjoys rising non-oil economy activity
(MENAFN) The United Arab Emirates (UAE) is enjoying health performance in its non-oil economy activities with constant increases.
However, momentum growth of the volume of the UAE's new orders is witnessing a slowdown from results seen in the past months.
In July, IHS Markit's seasonally-adjusted UAE purchasing managers index reached 55.1 to drop compared to June's 57.7 and reflect a good performance.
HIS associate director Andrew Harker stated: "companies were at least partly reliant on price discounting to secure new orders, suggesting some weakness in underlying demand. They were helped in this regard by a lack of cost inflation in July."
MENAFN0508201900450000ID1098845327
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