November saw the fastest growth in the UAE’s non-oil private sector activity in 11 months as strong market conditions encouraged new business. Additionally, the expansion led to a quicker rise in employment, which increased overall costs and wage costs.
In November, businesses raised their prices further to capitalize on robust demand and offset rising input costs. Additionally, they showed a minor increase in optimism for activity over the next 12 months, with expectations somewhat improving from their recent low in October.
In November, the seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI), a composite indicator intended to provide a precise picture of operating conditions in the non-oil private sector economy, reached a nine-month high of 54.8, up from 53.8 in October and above its long-run average of 54.3. The data showed that business conditions had significantly improved, with enterprises reporting higher inflows of new work and generally favorable market circumstances.
November saw a rise in new business volumes, with the growth rate at its highest point since January. According to survey participants, a favorable market climate enabled greater client orders and increased activity in numerous areas.
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