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UAE, Kuwait, and Qatar witness surge in business activity, reports S&P Global
The surge in the UAE was driven by higher business activity, boosted by rising demand and efforts to reduce backlogs.
The UAE’s non-oil sector continued its robust performance in October, with the Purchasing Managers’ Index (PMI) rising to 54.1, according to a report by S&P Global Market Intelligence.Â
This increase was driven by higher business activity, fueled by rising demand and efforts to reduce backlogs.
In Kuwait, the non-oil sector gained momentum, with the PMI rising to 52.7 in October, the highest in seven months. New orders and output grew, driven by advertising and competitive pricing, though job creation remained minimal.
Qatar also saw stronger growth in its non-oil private sector, with the PMI rising to 52.8 in October, spurred by increased demand and new investments in staffing and capacity.