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Dubai / Emirates Business
Emirates NBD Purchasing Managers’ Index (PMI) released January data for the UAE non-oil private sector. The survey, compiled by IHS Markit, contains original data collected from a monthly survey of business conditions in the industry.
Khatija Haque, Head of Mena Research at Emirates NBD, said: “The Emirates NBD Purchasing Managers’ Index (PMI) for the UAE rebounded to 56.3 at the start of 2019. The January PMI was the highest in seven months, and signalled a good start to the year for the non-oil private sector.â€
The main driver for the higher headline index in January was faster output growth, and the new orders index increased as well.
The improvement in business activity was partly due to promotions and price discounting by firms. The output price index remained below the neutral 50-level in January, signalling another month of lower average selling prices in the UAE, although the extent of price discounting in January was slight.