RIYADH: Non-oil private sector activity across the UAE, Egypt and Kuwait faced continued headwinds in May, as supply disruptions, regional geopolitical tensions and cost pressures weighed on business conditions.
The UAE stayed in expansion territory, Egypt recorded another contraction, and Kuwait remained below the 50 no-change mark despite signs that the pace of decline was easing.
The S&P Global Purchasing Managers’ Index showed the UAE’s headline reading rising to 52.6 in May from 52.1 in April, while Egypt’s PMI increased to 47.1 from 46.6.
Kuwait’s PMI also improved, reaching a three-month high of 47.2 from 46.3, but both Egypt and Kuwait continued to signal worsening non-oil business conditions.
In the UAE, non-oil private sector growth remained modest as shipping restrictions and regional tensions constrained output expansion and pushed up operating costs.
