UAE’s non-oil private sector growth spikes

Dubai: The UAE’s non-oil private sector output and new orders in June rose at their fastest pace this year, indicating a strong improvement in the overall health of the economy, according to the Emirates NBD Purchasing Managers’ Index (PMI).

The PMI for June rose to a 2018 high of 57.1, up from 56.5 in May, as both new export orders increased for the third month in a row but at a slightly slower rate than in May.

Output growth across the non-oil private sector accelerated to a seven-month high during the June survey. Rising output has been recorded continuously since February 2010.