UAE Non-oil Business Growth Picks Up In April

Business activity growth in the United Arab Emirates’ non-oil private sector accelerated slightly in April, a corporate survey showed on Tuesday.

The seasonally adjusted HSBC UAE Purchasing Managers’ Index, which covers manufacturing and services, edged up to 56.8 points last month from 56.3 in March, which was a 17-month low. The 50-point level separates growth from contraction in the survey of 400 firms.

“The UAE’s non-oil private economy began the second quarter of 2015 on a positive note, with business conditions improving at a faster pace in April,” said Philip Leake, economist at data compiler Markit.

Output, new orders and employment all rose more quickly during the month, with the output index climbing to 62.0 points from 60.7, and new orders edging up to 62.1 from 61.6.

Companies, however, were unable to raise the prices they charge while their input costs increased. The output price index was flat at 49.2 in April, while the input price index jumped above the 50 mark to 52.3 points from 49.3.