Industry in United Arab Emirates
United Arab Emirates - IndustryFollowing a likely solid second quarter for the non-oil sector, the economy appears poised to be gaining steam in the third quarter. This is notably thanks to the increase of OPEC oil production targets in June as reflected by a noticeable increase in oil output in July and August. Furthermore, although the PMI softened somewhat in the same period—indicating waning momentum in the non-oil economy—a swath of recent reforms enacted throughout the Emirates should be starting to bear fruit in Q4 and beyond, further buttressing economic activity. The measures notably focus on making business easier and cheaper to conduct, as well as on attracting investment and skilled labor—for instance by making visas and business licenses easier to obtain. Job creation for now remains one of the weak points of the UAE economy, as seen by the fall in employment logged in the August PMI. However, resilient output growth suggests it could accelerate in coming quarters as backlogs of work continue to accumulate.
United Arab Emirates - Industry Data
|Industrial Production (annual variation in %)||3.6||0.9||6.8||4.3||-|
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 %||Oct 18|
|Stock Market||0.3||0.75 %||Oct 18|
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October 3, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) rose slightly to 55.3 in September, up from 55.0 in August.
September 4, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) fell to 55.0 in August, from 55.8 in July.
August 21, 2018
Consumer prices fell 0.05% in July from the previous month, contrasting the 0.37% month-on-month increase observed in June. The July reading was mainly driven by a fall in the price of housing, water, electricity and gas, which accounts for over a third of the Consumer Price Index.
United Arab Emirates: PMI loses ground in July on weaker new business growth and sluggish employment
August 12, 2018
The Emirates NBD Purchasing Managers’ Index (PMI) fell to 55.8 in July from 57.1 in June.
July 30, 2018
Consumer prices increased 0.37% in June from the previous month, contrasting the 0.06% month-on-month fall observed in May.