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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UAE’s Recovery is No Joke and IMF Confirms it

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Here’s something good that I want to share with what I read today. Surprisingly, The International Monetary Fund  has amended development standpoint of the UAE in its most recent World Economic Outlook by dramatically increasing its past GDP development figure of 1.3 percent for 2021. Along with this, the IMF has gauge the UAE and Saudi Arabia to become 3.1 percent and 2.9 percent, separately in 2021 against assessed compressions of 5.9 percent and 4.1 percent a year ago which is actually a good progress.

Unmistakably, the worldwide development viewpoint depends not simply on the result of the fight between the infection and antibodies, it additionally relies on how viably financial strategies conveyed under high vulnerability can restrict enduring harm from this emergency. But look at it, The UAE was one of the nations that conveyed forceful financial and money related approach instruments notwithstanding macroprudential measures to help monetary development directly from the beginning of the emergency. The outcomes are presently undeniable and I’m sure that you’ll agree with me.

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