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 superiority in global competitiveness is based on two key factors: strategic governance and innovation.

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The United Arab Emirates' ascent to the seventh rank in the 2024 World Competitiveness Report is a significant achievement that highlights the nation's strategic leadership and commitment to novel concepts. The UAE has seen continuous improvement on the global stage under the direction of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, the country's president. Top rankings have been attained based on several measures of competitiveness. 

His Highness Sheikh Mohammed bin Rashid expressed gratitude to the devoted groups from the fields of development, the economy, and administration that made this achievement possible. UAE's quick rise in the World Competitiveness Report is indicative of its adaptability in the global economy. This is especially true for the rankings in Economic Performance, Government Efficiency, and Business Efficiency.

The UAE gets high ratings for more than ninety major indicators and sub-indicators, indicating that they have focused heavily on striving to outperform the competition and, as a result, have a mindset towards being global leaders. For example, they may rank first or second on nine different indicators. 

This achievement demonstrates the UAE's dedication to succeeding in a variety of academic fields.  

  

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