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UAE PMI hits 6-month high amid sharp rise in output

The Emirates NBD UAE Purchasing Managers’ Index (PMI) rose to a six-month high of 57.1 in August, up from 55.8 in July, indicating a robust improvement in business conditions, and pointing to a further acceleration in growth from the 22-month low seen at the end of Q2. The survey, sponsored by Emirates NBD and produced by Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.nThe rise in the headline index was underpinned by sharper growth of two of its main components in August, namely output and new orders. Activity rose at the fastest pace since February, while the rate of expansion in new business was a four-month high. Non-oil private sector employment in the UAE also increased, reflective of greater business requirements.

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