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Investor Relations
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FinancialNews
07-06-22
UAE non-oil sectors record sharp improvement
(MENAFN) The most recent survey information for the UAE presents that the non-oil areas are registering a sharp advance in business circumstances.
The UAE’s purchasing managers’ index (PMI) increased to 55.6 last month, the peak reading since mid-2019.
The survey underlines robust expansion in both business activity as well as new orders, with around 28 percent of firms recording a rise in business activity in May.
The survey shows the same for bordering Saudi Arabia, where private sector firms have also recorded strong expansion in new work and business activity last month.
Mainly, this was anticipated as the district’s financial prudence continue to improve from the coronavirus-related slump of 2020.
MENAFN07062022000045014228ID1104335239
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