12 Hrs
Source:
الاقتصادية
UAE Non-Oil Sector Grows in July
In July, the UAE experienced a notable growth in the non-oil sector, with the Purchasing Managers' Index rising to 52.7 points, marking the highest level in four months. This upturn was driven by increased new orders, improved exports, and restored business confidence following a period of regional geopolitical tensions. Additionally, both new orders and exports saw their fastest increases since February and March, respectively, amid higher employment and a rise in backlogged work due to cost pressures and logistical challenges. Despite ongoing geopolitical uncertainties and rising costs, the report highlights that economic activity is heading toward recovery with improved outlooks. However, continued political tensions and elevated expenses may impact future performance.
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