United Arab Emirates PMI

United Arab Emirates

United Arab Emirates: PMI improves in April

May 5, 2015

The HSBC Purchasing Managers’ Index (PMI) reached 56.8 in April, which was an improvement over the 56.3 recorded in the previous month. As a result, the PMI remains firmly entrenched above the 50-threshold that separates expansion from contraction in the non-oil producing private sector.

April’s figure mainly reflected an accelerated rate of expansion in the non-oil sector. Firms continued to hire in April, thus marking the 40th month of job creation. In addition, output and new orders recorded stronger expansions compared to the previous month. HSBC analysts added that, “the UAE’s non-oil private economy began the second quarter of 2015 on a positive note, with business conditions improving at a faster pace in April. Output, new orders and employment all rose more quickly during the month, contributing to the sharper overall expansion.”

FocusEconomics Consensus Forecast participants expect GDP to expand 4.1% in 2015, which is down 0.1 percentage points over last month’s projection. For 2016, the panel sees the economy also increasing 4.1%.

Author:, Senior Economist

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United Arab Emirates PMI Chart

UAE PMI April 2015

Note: HSBC Non-oil Purchasing Managers’ Index. Readings above 50 indicate an improvement in business conditions while readings below 50 indicate a deterioration.
Source: HSBC and Markit.

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