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UAE private sector growth cools off but firms remain confident

October 2016

October 5, 2016 | 11:30 | Dubai

Growth of the UAE’s non-oil private sector eased in September, with business conditions improving at the weakest pace since June. The sector’s slowdown was largely reflective of a subdued expansion in new work – the latest rise was the least marked in over six years, according to the latest Emirates NBD UAE PMI survey. Job creation was also modest. That said, both output and purchasing rose sharply, suggesting that firms remain confident about the near-term outlook. On the price front, competitive pressures led to lower purchase costs and output charges. The fall in the former ended a 17-month period of inflation. The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.

Key Findings
– Growth of new business eases sharply amid record drop in exports
– Both output and employment rise at similar rates to August
– Purchase costs fall for first time in 18 months

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