United Arab Emirates: Non-Oil Private Sector Expands Strongly in October as Firms Raise Prices at a Record Pace, PMI at 54.8
The United Arab Emirates' non-oil private sector expanded strongly in October as new orders accelerated and firms passed on surging costs at a record pace, a business survey released on November 4 showed. The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) fell to 54.8 in October from 55.3 in September, but held far above the 50 mark that divides growth from contraction.
"Output prices across the UAE non-oil private sector rose at the fastest rate in the survey's history in October, as input cost inflation quickened to its highest since June 2022," said David Owen, principal economist at S&P Global Market Intelligence.
A PMI reading above 50 signals an improvement in business conditions from the previous month. The survey shows that while new orders accelerated, cost pressures on firms rose markedly and were passed on through higher output prices.
Source: 标普全球
Published by GSM · USA (original Chinese edition)
Photo: 照片：阿联酋迪拜码头区天际线，Norlando Pobre 摄，Wikimedia Commons，CC BY 2.0 授权 / Photo: Dubai Marina skyline, United Arab Emirates, by Norlando Pobre, Wikimedia Commons, CC BY 2.0
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