Non-oil private sector growth hits 10-month high: Emirates NBD

The rate of job creation in the UAE in July was the fastest in over a year. That's according to the monthly Emirates NBD Purchasing Managers’ Index (PMI), which also says the Emirates' non-oil private sector growth hit a ten-month high in the same period. The rate of hiring in July reached a 14-month high, in contrast to Q2 trends of stagnant employment, the report said. The PMI, which measures monthly performance of business conditions in the non-oil sector, reached 55.3, up from 53.4 in June. Sharp expansions in output and new work accelerated overall growth.