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05-03-14

UAE business activity growth increase in February

(MENAFN) The UAE's business activity growth in the non-oil private sector increased last month from a three-month low, The Peninsula Qatar reported. The HSBC UAE Purchasing Managers' Index increased to 57.3 points in the month, up from 57.1 points in January. The index, which measures manufacturing and services sectors' performance, came above the 50 points mark which indicates expansion. Chief economist for the Middle East and North Africa at HSBC said: "Output growth is strong, new orders are rising and employment is gaining speed, so far without driving up prices."