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FINANCIAL NEWS
UAE non-oil business activity grow in January: Survey
16 Feb 2012
(MENAFN) The HSBC UAE Purchasing Managers’ Index showed that UAE’s non-oil businesses activity grew slightly in January after slipping to a four-month low in the December, Reuters reported.
The survey found that UAE firms’ new orders grew to 57.5 points in January after a fall to a four-month low of 56.0 in December.
The purchasing manager’s index rose to 52.4 points last month from 51.7 in December, the survey of 400 private sector firms showed.
According to the survey, new export orders marked a faster pace last month for the first time in four months despite reported weakness in the purchasing activity of European customers.
Overall input price pressures eased for the second month, marking the slowest rate in the last 11 months, the survey showed.
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