Non-oil business activity growth in the United Arab Emirates bounced back to the fastest pace in five months in March, a business survey showed on Wednesday, supported by new orders and the quickest jobs growth in almost seven years.
The seasonally adjusted S&P Global UAE Purchasing Managers' Index rose to 55.9 in March from 54.3 in February, the highest reading since November, and remained well above the 50 mark separating growth from contraction.
"The latest PMI reading of 55.9 in March reflected concerted efforts by non-oil companies to boost their capacity levels in the face of strengthening demand conditions," David Owen, senior economist at S&P Global Market Intelligence said. The employment sub-index rose to 52.6 in March, the briskest pace of growth since July 2016, as firms bolstered workforces to manage orders.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi non-oil business growth eases in March but output remains strong-PMISaudi Arabia's non-oil business activity continued to expand at a strong rate in March, a monthly survey showed, boosted by an increase in new orders, although the pace of growth softened from the previous month.
Read more »
Euro zone factory downturn deepened in March, PMI showsActivity at struggling factories across the euro zone fell further last month as consumers feeling the pinch from rising living costs cut back, according to a survey which did show the cost of manufacturing fell for the first time since mid-2020.
Read more »
Canada: S&P Global Manufacturing PMI declines to 48.6 in March vs. 51.7 expectedCanada: S&P Global Manufacturing PMI declines to 48.6 in March vs. 51.7 expected – by eren_fxstreet Canada Manufacturing PMI EconomicIndicator Macroeconomics
Read more »
US: ISM Manufacturing PMI declines to 46.3 in March vs. 47.5 expectedUS: ISM Manufacturing PMI declines to 46.3 in March vs. 47.5 expected – by eren_fxstreet Manufacturing PMI EconomicIndicator UnitedStates Macroeconomics
Read more »
Japan's March service-sector grows at fastest rate in over nine years - PMIJapan's services sector activity grew at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector.
Read more »
Game Day: March Madness stars march onLamont Butler, Angel Reese and Caitlin Clark are all expected to be back for another college basketball season.
Read more »