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UAE September purchasing managers’ index rises to 11-month high

UAE September purchasing managers’ index rises to 11-month high

Output rose for the fourth straight month

The IHS Markit United Arab Emirates Purchasing Managers’ Index (PMI) increased to 51 in September 2020 from 49.4 in August.

The September reading was the highest since October 2019 following softer Covid-19 restrictions, official news agency WAM reported.

Output rose for the fourth straight month and was at a faster rate, while new orders expanded and export sales grew for the second consecutive month.

The IHS Markit United Arab Emirates Purchasing Managers’ Index is an indicator that reflects the operating conditions and trends in the non-oil private sector economy.

Meanwhile, lead times continued to improve, although only at a marginal pace.

As for costs, input prices rose for the fifth month running, while there were several instances of discounts offered to help stimulate demand.

Buying levels fell for the first time in four months, with companies often using existing inputs to fulfill output needs.

However, according to the index, business concerns led companies to a further cut to employment.

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