It’s raining jobs in UAE as business conditions see ‘solid’ improvement

Jobs in the UAE’s non-oil businesses grew at the fastest pace in three months, a new survey said today. UAE businesses produced more in February as they placed and received more fresh orders for their products and services, Dubai-based Emirates NBD said in its monthly PMI survey. Growth of the UAE’s non-oil private sector gathered speed in February, having slowed in four of the previous five months, it noted. The Purchasing Managers’ Index (PMI) climbed to 53.1 in February, from 52.7 in January. The PMI indicator is derived from monthly surveys of private sector companies and provides an overview of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. The UAE survey is sponsored by Emirates NBD and produced by Markit. It contains original data collected from a monthly survey of business conditions in the UAE’s non-oil private sector. With January’s PMI reading being the lowest since March 2012, the latest figure was still below the series average (54.5), said Emirates NBD. Nonetheless, it bucked the recent trend of slowing growth, and was consistent with a solid improvement in business conditions overall, it said.   Emirates247