UAE sees solid improvement in non-oil private sector in April

SectorOil & Gas

UAE – Mubasher: The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI) increased to its highest level since mid-2019 to record 52.7 in April from 52.6 in March, reflecting a solid improvement in the country’s non-oil private sector.

At the start of the second quarter (Q2) of 2021, the UAE’s non-oil private sector noticeably improved because of a strong rise in new business inflows amid higher new orders, according to a press release on Tuesday.

Meanwhile, the UAE’s non-oil private sector recorded a sharp expansion in output amid a continued economic recovery from the coronavirus (COVID-19) repercussions.

Output charges also jumped for the first time in more than two-and-a-half years, attributed to higher input costs due to global raw material shortages and higher transport fees.

Meanwhile, backlogs of work rose amid lower employment rates for the third month in a row.

“The rate of improvement in operating conditions was still below the 12-year survey average, reflecting further pandemic-related disruptions for a number of businesses and sectors,” Economist at IHS Markit, David Owen, said.