Friday, January 6, 2012

Global uncertainty causes slump in UAE non-oil sector?s output

Business growth in the UAE?s non-oil private sector slumped to a four month low in December, according to the latest HSBC Purchasing Managers? Index (PMI). Output and new order growth both rose at weaker rates last month while employment levels stagnated, the report said. The situation is also unlikely to improve dramatically in the first quarter of 2012 because of the gloomy global economic scenario.

UAE firms saw solid output growth in December but the rate of increase moderated to a three-month low, the data showed
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Source: http://www.albawaba.com/global-uncertainty-causes-slump-uae-non-oil-sector%E2%80%99s-output-407873

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