The UAE PMI issued by IHS Markit declined to 54.1 points in January from 55.6 in December, which indicates that business conditions have improved at the slowest pace since last September.
The high number of coronavirus cases has hampered demand growth. At the same time, companies experienced the fastest rise in cost pressures in 10 months, which in turn reduced buying activity and job creation.
Business activity improved once more with sales related to the Expo in January, along with the recovery of economic conditions from the epidemic. The latest study data showed that the rise in new business led to a more noticeable expansion of production at the level of the non-oil producing sector.
Source: cnbc
