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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The UAE's Economic Surge: Riding the Wave of Growth

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UAE

 According to the most recent International Monetary Fund (IMF) predictions, the UAE's Gross Domestic Product (GDP) is expected to grow by 3.4% in 2023, outpacing all five Gulf Cooperation Council (GCC) members. The pace for growth does not stop then; the IMF predicts an even stronger rise to 4% in 2024.

What is driving this economic recovery? Higher oil prices have been critical, providing the UAE with a significant financial gain. As one of the world's main oil producers, the country has been able to profit from the current oil price boom, thereby bolstering its economic stability. 

What is driving this economic recovery? Higher oil prices have been critical, providing the UAE with a significant financial gain. As one of the world's main oil producers, the country has been able to profit from the current oil price boom, thereby bolstering its economic stability.

Another driving element behind the UAE's economic development is the influx of capital and investments. Investors from all over the world

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