UAE Non-Oil Economy Grows at Fastest Pace
The UAE’s non-oil private sector recorded its strongest growth in four months during July, driven by higher customer demand and a sharp rise in new business orders, according to the latest S&P Global Purchasing Managers’ Index (PMI) survey.
The PMI showed that companies received the highest level of new orders in five months. Businesses also reported stronger export demand, signalling that international markets are improving alongside local activity.
Many firms increased production to keep up with incoming work. The survey also found that companies continued hiring staff, although rising operating costs remained a challenge. Despite higher expenses, businesses kept prices competitive to attract customers.
The latest figures suggest that the UAE economy regained momentum after a slower June, when regional tensions affected business confidence. July’s rebound reflects stronger market conditions and continued support from sectors such as trade, tourism, logistics and financial services.
Economists say the latest data highlights the resilience of the UAE’s non-oil economy and supports the country’s long-term strategy to diversify beyond oil. If demand remains steady, businesses expect growth to continue in the coming months despite global economic uncertainty.
