Dubai – Mubasher: Economic indicators in the UAE showed that local companies have become far from being affected by the economic storms in other regions, despite the world’s going through major fluctuations following the Corona epidemic, which was followed by the inflation crisis.
According to a report released on Wednesday, David Owen, a researcher at S&P Intelligence, said local businesses are well out of the economic storms in other regions.
He explained that this came thanks to the high growth rates in production and new businesses as the country continues to recover from the Corona epidemic.
He pointed out that lower price pressures are also helping to drive growth, as September data points to another round of rapidly declining inflation, following what it witnessed in the first half of the year.
According to the report, the UAE PMI data for September showed that business conditions improved at a strong pace once more at the level of the non-oil economy, indicating that the strong growth of new business continued to drive production and employment increases.
Although the index fell slightly for the first time in three months, recording 56.1 points in September, following reaching a three-year high of 56.7 points in August, it indicated a strong improvement in the conditions of the non-oil private sector.
The improvement in business conditions was also driven by a strong increase in the volume of new business at the end of the third quarter of the year.
Although the order growth rate was slightly below August’s nine-month high, it was sharp, and faster than the trend since the survey began in August 2009.
The majority of the companies surveyed indicated that market conditions improved, in addition to an increase in sales, through the efforts made, to keep prices within reach of customers. Sales from abroad also increased in September, although they were modest.
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