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UAE non-oil business activity drops amid severe storms in April

Middle East News

03-05-2024 | 00:59

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UAE non-oil business activity drops amid severe storms in April

A survey showed a slowdown in non-oil business activity growth in the UAE in April, hitting its lowest level in eight months as company sales and production were impacted by the worst storms the country has seen in 75 years.

The seasonally adjusted S&P Global UAE Purchasing Managers' Index (PMI) slowed to 55.3 in April, marking the lowest reading since August of last year, though it remains above the 50 mark that separates expansion from contraction.

Reuters

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