UAE - Mubasher: The adjusted IHS Markit UAE Purchasing Managers' Index (PMI), focusing on the non-oil private sector economy, remained at 49.5 in November, recording below the 50.0 level for the third time in four months.
During November, the UAE non-oil private sector economy's activities have retreated for the first time since May, causing deterioration to the sector, according to a press release on Tuesday.
This decline in activities was driven by the coronavirus (COVID-19) negative impact on market and customer numbers, putting more pressure on companies.
New orders from foreign customers slightly decreased in November after increasing in the last two months due to the lockdown in Europe amid the COVID-19 second wave.
Meanwhile, the fall in the private sector employment was the least registered since February.
The Economist at IHS Markit, David Owen, said: "With the economy struggling to revive, job numbers once again declined, while businesses gave a negative outlook for the year ahead for the first time since sentiment data were first collected in April 2012."
