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05-07-14

UAE non-oil private sector's growth rebounds in June

(MENAFN) A purchasing managers' survey showed that UAE's business activity growth in non-oil private sector rebounded in June to near a record high, Gulf Daily News reported. The growth was led by an output increase at the fastest pace in the history of the series, the survey added. "The UAE boom continues to gather pace. Output is rising quickly, new orders are strong, and the labor market is in good health," chief economist for the MENA at HSBC said. UAE firms saw output growth accelerate to a record 63.3 points in June from 61 in May.