UAE's non-oil business activity grows as jobs bounce back despite Iran war uncertainty | The National

The Dubai Marina. Economic fundamentals of the UAE remain strong despite war-driven uncertainties. BloombergShow caption: The Dubai Marina. Economic fundamentals of the UAE remain st…The latest PMI reading is the highest recorded since March

The UAE's non-oil private sector PMI rose to 52.7 in July, a four-month high, signalling moderate improvement in the sector's health.

The broader economy has slowed due to the Iran war's impact, causing cautious client activity and competitive pressures despite solid fundamentals.

UAE employment rebounded in July after one of its sharpest contractions since Covid-19, with firms citing stronger demand as justification for renewed hiring.

Business confidence fell for a third consecutive month to its lowest since March, with only 7 per cent of firms predicting growth over the coming year.