Utmost improvement has been reflected in the conditions of the economy of business in the non-public sectors of the UAE i.e. non-oil after the October of 2014 and onwards.
According to the Purchasing Manager Index of the United Arab Emirates, there has been an increase in the indicator from 57.6 in the April to 59.4 in May which is the 3rd consecutive monthly rise.
The latest increased is mainly because of the strong demand in the market, the activity of marketing, and the initiation of new and innovative projects. It has been projected that the growth will continue to be expanding in the coming years while there was an only slight fluctuation in the business optimism than the record of the last month which was only fractionally high.
In the private sector, the degree of growth in the business also hastened. As well as, an increasing number of demands and the available discounts on the prices helped to secure more and more orders. Oman mentioned that the number of orders for the exports increased at the highest pace in the history of surveys with new emerging businesses from Saudi Arabia.
In the 8th consecutive month, their reduction in the discounting of prices as the companies managed to reduce the charges because of the gentle cost inflation. Whereas there was only a slight increase in the overall input of prices in May, and this was the slowest speed In the 9 months.
New orders which were higher resulted in the increased purchasing activity of the companies. There were optimistic expectations with respect to the workloads in the future and this gave encouragement to the building of stock midway during the 2nd quarter. There was also a boost in the purchases of the Inventories in May of 206 which rose to the highest degree.