UAE non-oil PMI slips to 50.8, weakest growth in over 5 years

RIYADH: The UAE’s non-oil private sector continued to expand in June, despite recording its weakest growth in more than five years, as the S&P Global Purchasing Managers’ Index fell to 50.8. The slowdown, from 52.6 in May. came as geopolitical disruptions, cautious client spending and intense competition weighed on business activity, although resilient domestic demand and continued public investment helped keep the non-oil economy in expansion territory. Employment also declined at its fastest pace since August 2020, according to a statement.

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