< Arab Finance - News - UAE’s non-oil economy slips in April; PMI hits 54.6 points

Market is closed

EGX 30 9,988.84 0.23%

Count Down to relaunch



UAE’s non-oil economy slips in April; PMI hits 54.6 points

UAE’s non-oil economy slips in April; PMI hits 54.6 points

ArabFinance: The UAE’s non-oil activity kept its growth in April, inching lower on a monthly basis as demand improved and exports grew, Reuters reported on May 9th.

The headline seasonally adjusted S&P Global UAE Purchasing Managers’ Index (PMI), an indicator of the performance of the non-oil private sector, inched down to 54.6 points in April, from 54.8 points in March, yet remained above the 50-point threshold.

Output of the Emirati non-oil sector surged in the second quarter (Q2) of 2022 as new orders increased, which was reflected in higher exports.

On the other hand, input costs rose in tandem with a surge in energy prices following the Russian-Ukrainian conflict.

Prices increased slightly in April, breaking a nine-month flat record as companies transfered a portion of the rise in costs to customers.

Furthermore, employment slowed down on the heels of shrinkage in labor costs.

 

#Related keywords

Recommended Stocks

13 Jun 2022
Delta Sugar SUGR
Close
13.67
Change
-00.29
Hold

All rights reserved to Arab Finance 2020 ©

Back to top