UAE PMI sees marginal recovery in July – IHS Markit

  • Date: 05-Aug-2020
  • Source: Mubasher
  • Sector:Economy
  • Country:UAE
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UAE PMI sees marginal recovery in July – IHS Markit

UAE - Mubasher: IHS Markit UAE Purchasing Managers' Index (PMI), an indicator focusing on the non-oil private sector, went up to 50.8 in July from 50.4 in June.

The index reflects an improvement in the sector for the second month in a row, as the coronavirus (COVID-19) lockdown and restrictions on business activities are being eased, according to a press release on Wednesday.

Further easing in restrictions has led to higher customer demand at the beginning of the third quarter (Q3), encouraging companies to increase their production in July. 

However, the UAE businesses are witnessing a modest recovery from the economic contractions due to the COVID-19 pandemic.

Meanwhile, companies have continued to cut jobs to reduce