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FINANCIAL NEWS
UAE’s non-oil sector slows down in December
07 Jan 2014
(MENAFN) Non-oil private-sector business activity in the UAE has seen a slight deceleration in December, according to Arab News.
The sector’s output, however, registered its fastest pace in 32 months, according to a survey of purchasing managers.
Simon Williams, HSBC’s chief economist for the Middle East, said: “Although the headline score moderated slightly month-on-month, the December reading was very strong and leaves no doubt that the UAE economy is expanding strongly.”
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