Money in United Arab Emirates
United Arab Emirates - Money
Economic growth slowed in the second half of 2019, according to the Central Bank’s preliminary data. A marked deceleration in the hydrocarbon sector weighed on the outturn as OPEC+ production cuts suppressed oil output growth toward the end of the year. The non-hydrocarbon economy fared better in H2, however, accelerating strongly from the tepid growth seen in the first six months of the year. Particularly, a tightening private-sector labor market and expanding credit growth boosted output in the sector. Turning to Q1 2020, although oil output rose year-on-year in January, slumping oil prices bode ill for the hydrocarbon sector, as does an impending price war following the collapse of OPEC+ talks in early March. Meanwhile, February’s non-oil PMI dropped to the lowest level on record, casting doubts on the sector’s ability to moderate the oil-driven slowdown.United Arab Emirates - Money Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 7.9 | 5.5 | 3.3 | 4.1 | 2.5 |
United Arab Emirates Money Chart
Source: Central Bank of United Arab Emirates.
United Arab Emirates Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 3.67 | 0.0 % | Dec 31 |
| Stock Market | 0.1 | 0.75 % | Jan 07 |
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Economic News
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United Arab Emirates: Consumer prices continue to decline in January
March 3, 2020
Consumer prices fell 0.09% month-on-month in January, following December’s 0.23% decrease.
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United Arab Emirates: Business conditions continue to deteriorate in February as PMI drops to an all-time low
March 3, 2020
The IHS Markit Purchasing Managers’ Index (PMI) inched down to 49.1 in February from 49.3 in January, marking the lowest reading since records began in August 2009.
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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.
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United Arab Emirates: Consumer prices end year with 12th straight decline
February 4, 2020
Consumer prices fell 0.23% month-on-month in December, contrasting November’s 0.13% increase.
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United Arab Emirates: Consumer prices taper for the 11th straight month in November
January 7, 2020
Consumer prices increased 0.12% month-on-month in November, contrasting October’s 0.16% decrease.
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