{"id":70047,"date":"2023-04-06T00:00:00","date_gmt":"2023-04-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/06\/uaes-non-oil-private-sector-activity-hits-five-month-high-in-march\/"},"modified":"2023-04-06T00:00:00","modified_gmt":"2023-04-06T00:00:00","slug":"uaes-non-oil-private-sector-activity-hits-five-month-high-in-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/06\/uaes-non-oil-private-sector-activity-hits-five-month-high-in-march\/","title":{"rendered":"UAE\u2019s non-oil private sector activity hits five-month high in March"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Activity in the UAE\u2019s non-oil private sector saw its fastest monthly rate of expansion in 18 months in March<\/span><span style=\"\">,<\/span><span style=\"\">according to <\/span><span style=\"\">S&P Global\u2019s UAE <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/f7e5349580ce4c69a3df50b2ea18ceda_254.pdf\" style=\"\">purchasing managers\u2019 index (PMI)<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/f7e5349580ce4c69a3df50b2ea18ceda_254.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"\">. <\/span><span style=\"font-weight:400;\">The PMI reading for March came in at 55.9, rising 1.6 points from February. All five sub-components of the weighted-average index \u2014 new orders, output, employment, suppliers\u2019 delivery times, and stocks of purchases \u2014 saw positive growth m-o-m. The latest PMI score places the index at a five-month high. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER -<\/span><span style=\"font-weight:400;\"> Anything above the PMI\u2019s all-important 50 mark cut-off indicates that the non-oil private sector is growing, while anything below that indicates contraction. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Buoyant numbers for March largely came on the back of strong demand driving new <\/span><span style=\"font-weight:700\">business orders<\/span><span style=\"\">,<\/span><span style=\"font-weight:400;\"> according to the report. Businesses scrambled to increase their capacity to meet strengthening demand, which came on the back of increased tourism and an upturn in domestic sales boosting the index. Despite increased tourism, domestic sales were the strongest driver for increased demand. Exports were broadly stable after a three-month lull.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Firms went on a hiring and purchasing spree to increase their capacity and meet new <\/span><span style=\"font-weight:700\">orders<\/span><span style=\"\">,<\/span><span style=\"font-weight:400;\">with employment levels rising at their fastest rate in almost seven years, according to the report. As a result, employment was the component of the index where the UAE performed best.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Businesses beefed up their stocks and inventories<\/span><span style=\"\"> so as not to be outpaced by soaring <\/span><span style=\"font-weight:400;\">demand, increasing stocks at their fastest rate in five years. Firms also saw the fastest rise in stockpiles of raw materials and semi-finished items in five years, according to the report. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Outlook for the future stood at a five-month high<\/span><span style=\"\">,<\/span><span style=\"\">indicating that the majority of the panelists <\/span><span style=\"font-weight:400;\">surveyed as part of the PMI report were confident that the non-oil private sector will continue to grow and generate new business over the coming 12 months.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">On the downside:<\/span><span style=\"font-weight:400;\"> Purchasing activity slowed compared with February, and firms experienced a slower improvement in delivery times.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ICYMI- PMI figures told a mixed story <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/edition\/logistics\/70dc4fd8-7ac1-4b94-8271-7f220bb9a9ee\" style=\"\">elsewhere in the region<\/a><\/span><span style=\"font-weight:700\">: <\/span><span style=\"\">Saudi Arabia and Qatar saw <\/span><span style=\"\">their non-oil private sectors boom on the back of higher demand and exports in KSA and a softening of inflationary pressures in Qatar. Meanwhile, activity in Egypt\u2019s non-oil private sector continued to decline as output and new orders took fresh hits. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New orders came in at a five-month high<\/p>\n","protected":false},"author":1,"featured_media":70048,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[141],"tags":[17,139,140],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-70047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-purchasing","tag-enterprise-logistics","tag-pmi","tag-purchasing","wpautop","entry"],"acf":{"mongo_id":"9661afcd-fbc0-4319-8212-2feb5a09826e","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/269.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s non-oil private sector activity hits five-month high in March","related_issue":[70042],"teaser":"New orders came in at a five-month high","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.03383d1a-b1d7-42ab-9620-88158c07f418.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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