Mubasher: The Purchasing Managers’ Index (PMI) of the UAE jumped from 55.3 in January to a 17-month high of 56.0, rising above its long-term average of 54.5, according to a recent statement issued by Emirates NBD.

The PMI, which is an indicator of the non-oil private sector economy signalling further improvement in the health of the private sector in the UAE. 

New business inflows reflected the fastest rate since September 2015, the statement noted.

“With new export orders also expanding markedly over the month, companies raised output further. In fact, growth of business activity climbed to an 18-month peak,” according to Emirates NBD’s statements.

Purchasing levels increased to the strongest extent since September 2016, while the pace of job creation softened to the weakest in four months.

“The upturn in purchasing activity helped companies build their input stocks in February, which rose sharply and at the second-quickest pace in one and a half years,” the statement said.

Supplier performance of the non-oil private sector firms in the UAE improved to the greatest extent since October 2012. 

The companies expect the favourable economic scenario to be sustained over the coming 12 months, with one-in-five companies forecasting output growth in the year ahead.