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Non-oil private sector expansion in Emirates cools in June

Staff Writer | July 11, 2016
In line with the recent trend, the UAE’s non-oil private sector expanded at a steady pace in June.
Emirates workers
AUE   Emirates NBD UAE PMI slipped to 53.4
Higher output and new orders were key factors behind the overall improvement in business conditions. That said, the respective rates of growth were subdued compared to those seen over the course of 2014 and 2015.

Both employment and purchasing activity rose only modestly. Meanwhile, cost pressures intensified to the most marked since September last year, but output prices continued to fall regardless.

The headline seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) slipped to 53.4 in June, from 54.0 in May. While still pointing to growth of the non-oil private sector, the latest figure was much lower than the average over the past three years (56.3). The reading was nevertheless in line with the second quarter trend (53.4).