UAE: Non-oil PMI posts second-best reading in four-and-a-half years in December

UAE PMI December 2023

UAE: Non-oil PMI posts second-best reading in four-and-a-half years in December

The S&P Global non-oil Purchasing Managers’ Index (PMI) came in at 57.4 in December, up from November’s 57.0 and the second-best result in four-and-a-half years. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in non-oil private-sector operating conditions compared to the previous month.

The reading was supported by substantial rises in output and new orders. In addition, employment continued to increase. Looking at prices, input inflation was the lowest since January 2023, and output inflation was negative and the lowest since July. Finally, business sentiment rose to one of the highest levels in the past four years.

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