Money in United Arab Emirates
United Arab Emirates - Money
Growth was likely strong in the second quarter, as oil production expanded robustly in year-on-year terms—despite ongoing OPEC output cuts—which bodes well for the energy sector. The non-energy sector was also likely solid, as the PMI averaged higher in Q2 compared to Q1. This comes hot on the heels of a healthy first quarter, with increased oil output driving the energy sector and vigorous credit growth powering the private sector. Turning to the third quarter, the tapering of the PMI in July suggests growth will likely lose some steam. On the upside, oil output remained robust in the same month, reflecting maintenance works last year. Meanwhile, in late August, the government decided to halt the construction and financing of Dubai’s Al Maktoum airport project amid a stagnant tourism sector and subdued regional economic growth.United Arab Emirates - Money Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 22.8 | 7.9 | 5.5 | 3.3 | 4.1 |
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 % | Sep 04 |
| Stock Market | 0.1 | 0.75 % | Sep 04 |
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Economic News
United Arab Emirates: PMI weakens in July, registering lowest reading since February
August 5, 2019
The IHS Markit Purchasing Managers’ Index (PMI) fell from 57.7 in June to 55.1 in July.
United Arab Emirates: PMI declines in June but remains near May’s over four-year high
July 3, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) fell from 59.4 in May—the highest reading since October 2014—to 57.7 in June.
United Arab Emirates: PMI soars to highest level in over four years in May
June 10, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) rose to 59.4 in May from 57.6 in April, the highest reading since October 2014.
United Arab Emirates: Drop in consumer prices moderates in April
June 2, 2019
Consumer prices rose 0.17% month-on-month in April, contrasting the 0.59% fall recorded in March.
United Arab Emirates: PMI rises to 16-month high in April as output soars, supported by GCC demand
May 5, 2019
The Emirates NBD Purchasing Managers’ Index (PMI) rose from 55.7 in March to 57.6 in April, the highest reading since December 2017.
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