United Arab Emirates PMI

United Arab Emirates

United Arab Emirates: PMI rises in July

August 4, 2015

The Emirates NDB Egypt Purchasing Managers’ Index (PMI) increased in July, rising from June’s almost two-year low of 54.7 to 55.8. As a result, the PMI moved further above the 50-threshold that separates expansion from contraction in the non-oil producing private sector.

July’s figure came on the back of a faster expansion in output and new orders. Exports rose at a notable pace in July and purchasing activity at non-oil private sector firms improved from June’s almost-two-year low. Employment continued to increase, mirroring June’s rate of job creation. Regarding prices, input price inflation rose to a five-month high, however remained moderate in the context of historical data. Analysts added that, “July’s PMI is another indication that growth in the UAE’s non-oil economy is proving resilient in the face of a challenging regional and global economic environment. The rebounds in output and new orders were particularly encouraging, and we expect this momentum to continue through the remainder of 2015.”

FocusEconomics Consensus Forecast participants expect GDP to expand 3.5% in 2015, which is unchanged over last month’s projection. For 2016, the panel sees the economy also increasing 3.6%.

Author:, Senior Economist

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United Arab Emirates PMI Chart

UAE PMI July 2015 0

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 Markit.

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