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FINANCIAL NEWS
Business activity in UAE at record high
05 Dec 2013
(MENAFN) The UAE’s non-oil private sector’s business activity has accelerated last month to hit a record high, The Peninsula reported.
A purchasing managers’ survey revealed that both output of the private non-oil sector and orders registered a considerable increase.
The HSBC UAE Purchasing Managers’ Index increased last month to 58.1 point from 56.3 in October. The index measures the performance of manufacturing and services in the country.
A senior economist at HSBC said: “With the announcement that Dubai will host Expo 2020, and improved sentiment around the geopolitical situation, there is ample reason to believe that the strong performance seen in the UAE in 2013 will continue into 2014.”
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