UAE - Mubasher: The adjusted S&P Global UAE Purchasing Managers' Index (PMI), which focuses on the performance of the non-oil private sector, has retreated to 54.6 in April from 54.8 in March to mark its lowest level in three months.
The reading remained above the 50 neutral mark to reflect a strong growth in the UAE's non-oil activity, driven by improvement in client demand and a significant increase in exports, according to a press release on Monday.
However, companies have raised their input costs for the first time in nine months due to higher energy and material prices amid the Russia-Ukraine war and pandemic.
Meanwhile, the risk of ongoing inflationary pressures has led to a decline in business confidence to a four-month low.
The Economist at S&P Global, David Owen, said: "Cost pressures remained at their highest level for more than three years, driven by rising fuel and material prices, forcing businesses to raise their selling charges for the first time since July last year."
Meanwhile, Owen added: "For now, businesses continue to enjoy strong sales growth, which allowed them to increase their output at the fastest rate in 2022 so far in April."
