In February Non-oil private sector conditions improved in UAE

According to a new survey, the non-Oil private sector of the United Arab Emirates (UAE) has seen significant growth in the month of February. There was an increase in demand and subsequently, Output also increased. However, the growth rate was lower than the growth rate of the fourth quarter of the last year. United Arab Emirates (UAE) Purchasing Managers’ Index (PMI) increased from 54.1 in January to 54.8 in the last month. David Owen, who is an economist at survey compiler IHS Markit said: "The upsurge was widely linked to rising client demand, with businesses also pointing to growth in tourism as the Expo 2020 continued and countries loosened their travel measures. While output expanded sharply in February, firms still reported a lack of capacity to deal with new orders, linked to weak hiring momentum and challenging global supply conditions." Also, the output subindex climbed from 59.6 in January to 60.6 in February. The report said: "While global supply chains remained disrupted, business signaled that local vendors are increasing their capacity to manage these issues.” United Arab Emirate’s Index was also boosted by the Expo World Fair that was organized in the country’s capital- Dubai in the month of October.