UAE: PMI moves further into expansionary territory in July

UAE PMI July 2022

UAE: PMI moves further into expansionary territory in July

The S&P Global Purchasing Managers’ Index (PMI) came in at 55.4 in July, up from June’s 54.8 and above its long-term average. As such, the index moved further above the 50.0 no-change threshold, signaling a stronger improvement in non-oil private-sector business conditions compared to the previous month.

July’s upturn was chiefly due to sales growth accelerating from June amid favorable demand conditions, which also drove an increase in new business intakes. Consequently, firms ramped up output at one of the fastest rates this year. Moreover, employment levels increased in July, in response to a rising backlog of orders. Additionally, supplier performance improved for the tenth consecutive month, as supplies were delivered in a timely manner. With regard to prices, output charges were lowered once again, despite a sharp increase in input costs. Less positively, firms’ sentiment, while still optimistic regarding the 12-month output outlook, dropped to a ten-month low.

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