RIYADH: The UAE’s non-oil private sector growth remained steady in July but marked its slowest improvement in almost three years, an economy tracker showed.
According to the S&P Global Purchasing Managers’ Index, the Emirates’ PMI slipped to 53.7 in July from 54.6 the previous month as competitive conditions, rising price pressures and capacity overloads weighed on performance.
In July, the index was also below its long-run average of 54.4 but remained solidly above the 50.0 expansion mark.