Solid growth on the cards for the UAE despite accelerating inflation – The National

Solid growth on the cards for the UAE despite accelerating inflation – The National

The latest survey data for the UAE shows that the non-oil sectors are recording a sharp improvement in business conditions. The UAE’s purchasing managers’ index (PMI) rose to 55.6 in May, the highest reading since mid-2019.

The survey highlights strong growth in both business activity and new orders, with about 28 per cent of companies reporting an increase in business activity last month.

The story is similar in neighbouring Saudi Arabia, where private sector companies have also reported robust growth in new work and business activity in May.