UAE non-oil private sector recovery continues but pace softens slightly: PMI

The United Arab Emirates’ non-oil private sector expanded for a sixth consecutive month in May, though it did so at a place slightly lower than in April and employment shrank for the fourth straight month, a survey showed on Thursday.

The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, edged down to 52.3 in May from 52.7 in April, remaining below the series average of 54.1.

The coronavirus crisis hit the Gulf

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