UAE Non-oil Growth Hits Fastest Rate Since 2024

The non-oil sector in the UAE grew at the fastest pace since December 2024 during August, supported by increased production and new business. The Purchasing Managers' Index (PMI) rose to 55.3 points from 52.7 in July. Export orders also increased for the second consecutive month, reaching the highest level in 21 months. Production and backlog of work expanded strongly, aided by improved supply conditions and reduced input cost inflation. The report indicated that company performance has become more optimistic for 2024, with growing confidence and significant improvement in non-oil economic performance.

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