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UAE Non-Oil Private Sector Growth Highest Since June 2019

The UAE non-oil private sector growth was the highest since June 2019 during November, survey results from IHS Markit showed on Tuesday.

The Purchasing Managers' Index rose to 55.9 in November from 55.7 in October. A score above 50 indicates expansion.

"November data showed the UAE economy still running strong, with the rate of growth even accelerating from October when the start of Expo 2020 led to an upsurge in activity," David Owen, an economist at IHS Markit, said.

Output and new business increased in November, but export sales increased at a softer pace.

New orders increased sharply in November and suppliers' delivery time improved. Employment levels remained unchanged after expanding for five successive months.

Output charges declined in November and input prices rose at the slowest pace since May.

The outlook for the next 12 months weakened in November.

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