UAE non-oil sector growth hits 12-month high in February

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry South Korean stock trading temporarily halted as KOSPI slides over 11% Asia stocks slide amid Iran tensions, mixed China PMIs; S.Korea slumps 11% Stocks close in the red as widening Middle East conflict sparks inflation fears Gold slips on stronger dollar; safe haven demand remains high amid Iran conflict (South Africa Philippines Nigeria) UAE non-oil sector growth hits 12-month high in February By Editor Maria Ponnezhath Economic Indicators Editor Maria Ponnezhath Published 03/03/2026, 11:56 PM UAE non-oil sector growth hits 12-month high in February 0 Investing.com -- The UAE non-oil private sector expanded at its fastest pace in 12 months during February, according to data released Wednesday by S&P Global. The S&P Global UAE Purchasing Managers’ Index rose to 55.0 in February from 54.9 in January, marking the highest reading since February 2025. A reading above 50 indicates expansion in business conditions. Business activity increased at the sharpest rate since April 2024, driven by a supportive demand environment, successful contract work, targeted marketing efforts and growth in construction, real estate, logistics and technology sectors, according to survey respondents. New orders rose at a steep pace in February, only slightly below January’s near two-year high. Companies cited increased tourism, expansion of e-commerce channels and rising demand for AI-related products as contributing factors. Export sales growth remained modest, suggesting domestic demand was the primary driver. Outstanding work accumulated at a steep rate as firms undertook new projects and reported high order inflows, along with administrative backlogs and checks on shipments. The rate of accumulation quickened markedly from January’s two-year low. Employment numbers rose modestly in February, marking the largest increase in staffing capacity during the period covered by the survey. The data collection took place from February 5-23...