17 Hrs
Source:
الاتحاد
Private sector posts four-month high
The article focused on the performance of the non-oil private sector in the United Arab Emirates during July, marking its best performance in four months. There was a clear improvement in the Purchasing Managers’ Index, which rose to 52.7 points after reaching its lowest level in over five years in June. The results highlighted an increase in new orders, a rise in export demand for the first time since March, along with a recovery in customer confidence and a reduction in regional tensions. This led to a resurgence in production and employment growth. Additionally, demand for hiring and operations increased, with backlogs of work accumulating at the fastest rate in four months, despite ongoing challenges such as limited client budgets and congested shipping channels.
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