DUBAI / Emirates Business
Growth of the UAEâ€™s non-oil private sector gathered speed in February. According to the latest Emirates NBD UAE PMI survey report, the overall improvement in business conditions was helped by expansions in output, new orders and employment.
The survey, sponsored by Emirates NBD and produced by Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.
Commenting on the Emirates NBD UAE PMI, Khatija Haque, Head of MENA Research at Emirates NBD, said, “The improvement in the Emirates NBD UAE PMI last month is encouraging.”
“We expect the environment over the coming weeks to remain challenging, with several global factors weighing on sentiment and activity,” added Haque.
The headline Emirates NBD UAE Purchasing Managersâ€™ Index (PMI), a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy, climbed to 53.1 in February, from 52.7 in January.