RIYADH: Non-oil business activity across the UAE, Kuwait and Egypt expanded further in December, supported by rising new orders and steady demand, economy trackers showed.
In its latest report, S&P Global revealed that the UAE’s Purchasing Managers’ Index eased slightly to 54.2 in December from a nine-month high of 54.8 in November, remaining firmly in expansion territory.
A PMI reading above 50 indicates an expansion in non-oil business activity, while a figure below 50 signals contraction.
The UAE’s non-oil sector performance aligns with broader trends across the Middle East and North Africa, where economies continue to pursue diversification efforts aimed at reducing reliance on crude revenues.
Saudi Arabia led the PMI readings in the region in December, with the Kingdom recording 57.4, supported by rising new orders, continued growth in business activity and expanding employment.
