Continued strong growth through August
UAE private sector sees fastest increase in employment since January 2018
The strong growth of production is increasingly reflected in the hiring decisions of companies.
The main Purchasing Managers' Index (RPMI) of the "IHS Markit" group, for the Emirates, showed that the non-oil private sector in the country continued its strong growth during last August, but slightly less than the expansion achieved in July, which was Fastest pace of growth in two years.
The index indicated that the strong growth in production led to the fastest increase in employment since January 2018, indicating the acceleration of production growth with the continued strength of sales momentum.
The seasonally adjusted index, which covers the manufacturing and services sectors, rose to 53.8 last month, still well above the 50-point level that separates growth from contraction, and just below the average rate recorded since 2009 of 54.1.
Output, a sub-index that measures business activities, also rose to 58.6 points last August from 57.1 points the previous July, the second-highest reading in a row since July 2019.
"The PMI data pointed to another strong rise in business activities across the non-oil sector in the UAE, during August 2021, as demand continued to recover from the impact of the pandemic," said David Owen, an economist at IHS Markit. ».
"This is increasingly reflected in companies' hiring decisions, with employment numbers rising at the fastest rate in more than three and a half years," he added.
The employment sub-index, which contracted for 12 consecutive months in 2020 and four months this year, rose to 51.6 points in August from 50.7 in July, the highest reading since January 2018.
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