As the economy rebounds strongly and companies report strong sales, UAE companies in the non-oil sector hired more people in August than they have in the past over three and a half years according to the monthly survey released on Sunday.
Business activity increased at the fastest rate since July 2019 according to the IHS Markit UAE Purchasing Managers’ Index (PMI). This index provides an overview of operating conditions in the non-oil private sector economy. As demand continued to rebound from the pandemic, IHS Markit economist David Owen said recent PMI data indicated a robust increase in business activity across non-oil sectors in August.
Employment numbers increased faster than they have in more than three-and-a-half years as a result of this trend, he said. After six months of increasing wait times for inputs, there was also a slight improvement in supplier performance. However, some companies were still experiencing delays in import arrivals, as well as increased raw material costs, he said. As demand continued to rebound from the pandemic, IHS Markit economist David Owen said recent PMI data indicated a robust increase in business activity across non-oil sectors in August.