United Arab Emirates PMI November 2016

United Arab Emirates

United Arab Emirates: PMI increases in November

December 5, 2016

The Emirates NDB Purchasing Managers’ Index (PMI) increased to a three-month high of 54.2 in November from October’s 53.3. The index remains comfortably above the 50-threshold that separates expansion from contraction in the non-oil producing private sector.

November’s result marked an improvement from October’s reading and was broadly in line with the year-to-date average of 53.8. The reason behind November’s increase was a robust expansion in new work, while employment also improved. In fact, higher demand strengthened job creation and purchasing activity. Emirates NDB commented that, “the November PMI data is encouraging as it continues to point to strong activity growth in the UAE, even as external demand remains soft. However, the environment remains competitive, and margins continue to be squeezed by rising input costs and declining output prices”.

FocusEconomics Consensus Forecast participants expect GDP to expand 2.6% in 2017, which is unchanged from last month’s projection. For 2018, the panel sees the economy increasing 3.2%.

Author:, Economist

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United Arab Emirates PMI Chart

UAE PMI November 2016

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

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