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UAE PMI 55.0 in Aug-23

- The UAE's PMI in August 2023 stood at 55.0, representing a slight decline from the previous month's reading of 55.7. This suggests a moderation in the pace of economic expansion.
- The August 2023 PMI reading of 55.0 is the lowest level since February 2023, indicating a relative slowdown in economic growth compared to the previous months.

UAE PMI Dubai Economy Tracker 55.0 in Aug-23

- The UAE PMI Dubai Economy Tracker recorded a reading of 55.0 in August 2023, the lowest level since February 2023.
- This indicates a deceleration in economic growth and a potential slowdown in business activity in the non-oil private sector in Dubai.

BRICS Without Straw

• Beijing’s domineering drive to enlarge the BRICS group as a counterweight to the G7 is rooted primarily in the CCP’s need to internationally promote its autocratic governance model. That aids the domestic justification while, paradoxically, Xi Jinping’s policies turn China increasingly inward.

By Alastair Newton

UAE PMI Non-Oil Private Sector 55.0 in Aug-23

- The UAE PMI Non-Oil Private Sector index fell to 55.0 in August 2023, its lowest level since February 2023, indicating a moderation in the pace of expansion.
- The reading of 0.47 below the one-year average suggests a relative slowdown in the non-oil private sector compared to the preceding twelve months.