UAE's private sector growth slows in January as COVID-19 hits demand
The UAE's non-oil private sector businesses have lost momentum since the end of 2021 as rising COVID-19 cases curbed demand growth. Companies have endured the fastest rise in cost pressures in ten months, which in turn has limited purchasing activity and job creation, according to a new business survey.
The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) fell to 54.1 in January from 55.6 in December.
