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Market Update: UAE Private Sector Growth Stays Robust
The IHS Markit United Arab Emirates PMI edged lower to 53.8 in August 2021 from a two-year high of 54.0 a month earlier, as the economy recovered slowly from COVID-19 restrictions. New orders rose for the sixth straight month, although the rate of growth eased slightly from July’s recent high; while export sales shrank for the fourth month in a row, due to shipping issues. Meantime, output went up faster, with employment growing the most since 2018 and backlogs of work accumulating further amid supply-chain pressures. Delivery times improved slightly, the first time since January. Prices data showed input buying rose for the second month running, with the pace of inflation still one of the quickest in the last three years. Output charges fell for the first time since May, amid efforts from other companies to offer discounts. Looking forward, sentiment weakened to its lowest in five months but remained positive. source: Markit Economics [/s2If]
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