The UAE non-oil private sector growth improved marginally in April, amid a rise in output and new orders, survey results from IHS Markit showed Tuesday.
The Purchasing Managers’ Index rose to 52.7 in April from 52.6 in March. A score above 50 indicates expansion.
New orders rose at the fastest pace in twenty months in April.
Output expanded sharply and backlogs of work grew for the first time in eight months. Firms reduced employment in April.
Input buying grew at the quickest pace in nine months in April and suppliers’ delivery time lengthened.
Input cost increased in April and the overall cost pressure rose for the third consecutive month. Output charges rose for the time time in over two-and-a-half years in April.
Business expectations improved for the fifth straight month, with the hopes of recovery from Covid-19 and rise in sales from the Expo 2020 later in the year.
“That said, 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,” David Owen, an economist at IHS Markit, said.
The material has been provided by InstaForex Company – www.instaforex.com