Non-oil private sector expansion in Emirates cools in JuneStaff Writer | July 11, 2016
In line with the recent trend, the UAE’s non-oil private sector expanded at a steady pace in June.
AUE Emirates NBD UAE PMI slipped to 53.4
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). ■