UAE - Mubasher: The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) recorded 52.3 in May, down from 52.7 in April, reflecting a moderate improvement in the UAE's non-oil private business conditions.
Although the UAE's non-oil private sector economy showed a sign of recovery in May, the index remained below the series average of 54.1, according to a press release on Thursday.
The country's non-oil economy continued to recover through the second quarter (Q2) of 2021 amid an improvement in domestic demand and an increase in output and new orders at a solid pace.
Meanwhile, the cost inflation fell for the second month in a row, which led to a renewed decrease in products' prices, as businesses sought to gain new customers.
However, the number of jobs continued to decline, and input purchases slightly increased.
The Economist at IHS Markit, David Owen, commented: "Employment numbers continued to disappoint in May, falling for the fourth month in a row. With backlogs starting to rise and demand to strengthen, it is hoped that businesses will start to raise their staffing levels soon to support overall growth."
