UAE: Non-oil PMI deteriorates in November

UAE PMI November 2023

UAE: Non-oil PMI deteriorates in November

The S&P Global non-oil Purchasing Managers’ Index (PMI) fell to 57.0 in November from October’s 57.7. As a result, the index moved closer to the 50.0 no-change threshold, signaling a softer, albeit still strong, improvement in non-oil private-sector operating conditions from the previous month.

New orders continued to rise, driven by new clients, rising demand, project inquiries and marketing work. This, in turn, sharply pushed up output. Meanwhile, input prices rose at the second-sharpest pace since mid-2022, while output inflation was roughly zero. Finally, business optimism waned due to concerns that competitive pressures could eat away at market share.

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