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FINANCIAL NEWS
UAE’s non-oil business registers modest growth in June
05 Jul 2015
(MENAFN) The United Arab Emirates’ non-oil private sector recorded more modest growth in June, running into 22 months of abiding in the low zone, according to an official survey, Reuters reported.
Emirates NBD UAE Purchasing Managers’ Index (PMI), which is seasonally attuned, indicated that the sector went down to 54.7 points in June from 56.4 in May, 50 being the mark separating growth contraction.
“Although the June PMI data was the softest in two years, it signals solid growth in the non-oil private sector,” the head of regional research at Emirates NBD said in a statement.
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