UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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Here’s How Economic Recovery is Possible for 2022

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Here’s something that needs anticipation about what I read today. It’s how the UAE will have a full recuperation in 2022 while rotating to positive development this year subsequent to recording a profound withdrawal in 2020. The way to full recuperation will be driven by a proceeded with flood in financial spending, sound financial area credit development, solid improvement in work and recuperated business opinion, with part of Expo 2020 Dubai occurring in 2022 also.

For 2021 and 2022, the controller anticipates genuine absolute GDP to continue development by 2.5 percent and 3.5 percent, separately, and non-hydrocarbon genuine GDP to develop by 3.6 percent and 3.9 percent, individually. In any case, monetary projections incorporate uncommon vulnerability in the midst of Covid-19 repercussions and are in this way subject to amendments. The monetary action in the UAE proceeded with its recuperation in the final quarter of 2020. Non-oil areas improved further in the three-month time frame as lockdowns were facilitated and travel continued, while the nation began the underlying periods of antibody dissemination.

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