Industry in United Arab Emirates
United Arab Emirates - IndustryEconomic activity was likely tepid in the second half of last year, although comprehensive data is still yet to be released. Non-oil private sector activity looks to have slowed, with the associated PMI slumping since the middle of the year on dissipating demand; however, gross credit lending expanded year-on-year in the same period. Oil output generally picked up in annual terms through end-2019, boding well for the all-important oil sector, but reflected marginal over-production with regards to agreed-upon OPEC+ production cuts. Turning to Q1 2020, soft dynamics seem to have carried over from the previous quarter, with January’s non-oil PMI signaling the sharpest deterioration in business conditions since August 2009. On a more positive note, a vast gas field measuring around 80 trillion cubic feet was discovered in the UAE in February, boding well for energy self-sufficiency.
United Arab Emirates - Industry Data
|Industrial Production (annual variation in %)||0.9||6.8||4.3||-1.0||-|
5 years of economic forecasts for more than 30 economic indicators.
United Arab Emirates Industry Chart
Source: National Bureau of Statistics.
United Arab Emirates Facts
|Exchange Rate||3.67||0.0 %||Dec 31|
|Stock Market||0.1||0.75 %||Jan 07|
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United Arab Emirates: PMI plunges below 50 in January as conditions deteriorate for first time since 2009
February 4, 2020
The IHS Markit Purchasing Managers’ Index (PMI) slumped to 49.3 in January from 50.2 in December, marking the lowest reading since records began in August 2009.
February 4, 2020
Consumer prices fell 0.23% month-on-month in December, contrasting November’s 0.13% increase.
January 7, 2020
Consumer prices increased 0.12% month-on-month in November, contrasting October’s 0.16% decrease.
January 6, 2020
The IHS Markit Purchasing Managers’ Index (PMI) was ticked down to 50.2 in December from 50.3 in November—the lowest reading since records began in August 2009.
December 5, 2019
The IHS Markit Purchasing Managers’ Index (PMI) was ticked down to 50.3 in November from 51.1 in October—the lowest reading since August 2009.