UAE’s PMI rises to 57.7 in March 2014

By bne IntelliNews April 3, 2014

The UAE’s purchasing managers index (PMI) increased to 57.7 in March 2014 from 57.3 a month earlier, recording the second-highest reading in the series history and stretching the current sequence of improvement to 55 months, a survey compiled by Markit Economics for HSBC, showed on April 3.

The March PMI also signalled a further solid rise in activity at the UAE’s non-oil private sector firms, with the rate of expansion accelerating to the quickest on record, the pollster underscored. Output increased during March, with the pace of expansion speeding up to the highest since data collection began in August 2009.

Order intakes also rose markedly in March with the growth rate being the second-sharpest in the series history. Increased new business was supported by improved market conditions, higher construction work and greater sales team efforts, Markit noted. Meanwhile, new export orders also rose sharply, despite the easing from February’s record-high. Such parameters boosted purchasing activity in March. The increase in input buying was the most marked since data collection began in August 2009, Markit said. Employment growth sustained in March but the rate of job creation was virtually unchanged since February and indicative of a modest expansion.

Backlogs of work rose at the second-sharpest rate in the series history, implying ongoing pressure on operating capacity in the UAE’s non-oil private sector.

As to prices, overall input charges increased at a slightly faster pace than in February, according to Markit. But staff cost inflation accelerated to a three-month high in March due to higher prices for some raw materials. Increased living costs also helped lift average salaries in March, Markit noted.

In response to increased input costs, companies in the UAE’s non-oil private sector increased their charges for the fourth straight month in March. 

Related Articles

Iran, Syria sign raft of memoranda and deals

Following the purge of foreign-backed rebels in the devastated Syrian city of Aleppo by Iranian, Lebanese and Russian forces, Damascus’s prime minister Imad Khamis was in Tehran to sign five ... more

Egypt could return to emergency rule amidst deadly bomb explosions

A spate of explosions in Egypt over the long weekend marking the birthday of Prophet Mohamed culminated in the detonation of a bomb at a church attached to the Coptic Christian Cathedral that ... more

Egypt’s inflation spikes post November currency floatation, rate hike expected

Egypt’s annual inflation rate spiked in November to hit its highest levels since July 2008, reflecting the effects of the general rise in price levels of goods since the Egyptian pound’s ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss