UAE non-oil economy: Corporates are optimistic; recovery remains on track

The UAE's non-oil private sector economy saw a renewed improvement in September with its headline Purchasing Managers' Index (PMI) reading back in expansionary territory.

The IHS Markit UAE PMI posted its reading at 51 in September, the highest for 11 months, strengthened by a faster increase in output levels and an additional rise in new work.

“This marks another data point which signals that the recovery remains on-track, notwithstanding a recent resurgence of the virus," Ehsan Khoman, Head of MENA Research and Strategy at MUFG told Zawya.

 

Source: https://www.zawya.com/mena/en/economy/story/UAE_nonoil_economy_Corporates_are_optimistic_recovery_remains_on_track-ZAWYA20201006033307/

 

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