UAE non-oil private sector holds steady as new orders rise in November

DUBAI: The seasonally adjusted UAE Purchasing Managers’ Index (PMI) edged up slightly to 54.2 in November from 54.1 in October, signaling continued expansion in the sector. The PMI remained well above the 50.0 threshold, which separates growth from contraction, though the growth pace stayed below earlier peaks this year.

New business orders saw a sharp increase, with the subindex jumping to 58.0 in November, its highest level since August, from 55.9 in October. This marked a rebound from October’s subdued pace, which was the slowest since September 2022.

Despite the rise in demand, the rate of output growth softened, slipping to 59.6 in November from October’s 61.3. Nevertheless, the expansion in activity remained above its long-term average.
Challenges persisted, however, as firms reported faster accumulation of backlogged work, while job creation hit a 31-month low. Business confidence in future activity remained cautious, reflecting tempered optimism about the months ahead.