Archive

UAE PMI 56.9 in Jun-23

- The UAE PMI for June 2023 stood at 56.9, representing a significant expansion and reflecting a strong recovery in the private sector.
- This reading marks the highest level since August 2022 and is above the one-year average, highlighting sustained growth and improved business conditions.

Opec: Is The End (Finally) Nigh?

• Historically, forecasts of Opec’s imminent demise have proved well wide of the mark. However, keeping the cartel together as we enter an era of permanently declining demand for oil may prove much more challenging.

By Alastair Newton

UAE M3 money supply 20.8% y-o-y in Apr-23

- The UAE M3 money supply grew by 20.8% year-on-year in April 2023, surpassing both the one-year and long-run averages by 7.18 and 14.38 percentage points, respectively.
- The significant increase in the money supply raises both opportunities for economic growth and concerns about inflation and financial stability, necessitating careful monitoring and policy measures.

UAE PMI 55.3 in May-23

- The UAE's PMI dropped to 55.3 in May 2023, the lowest level since February 2023, indicating a slowdown in the manufacturing sector's growth.
- The figure was 0.41 points below the one-year average, suggesting some challenges in the manufacturing sector that affected its performance.