RIYADH: UAE non-oil companies recorded their fastest increase in new orders in nearly two years in January, signaling strengthening private-sector demand, an economic tracker showed.
According to the latest Purchasing Managers’ Index report released by S&P Global, the Emirates’ PMI reached an 11-month high of 54.9 in January, up from 54.2 in December.
Any PMI reading above 50 indicates expansion in non-oil business activity, while a reading below 50 signals contraction.
The sustained growth of the non-oil sector in the UAE mirrors a wider trend across the Middle East and North Africa, where countries are pursuing economic diversification to reduce reliance on crude revenues.
Saudi Arabia is leading the region in non-oil business activity, with the Kingdom’s PMI reaching 56.3 in January, driven by output growth, improving market conditions, and stronger client demand.
