The strong growth of the UAE private economy continues in March

The “Procurement Manager Index” in the UAE showed that business conditions improved at a strong pace, and the continued growth of the unproductive economy last March.

According to the index of S & B Global, the companies participating in the study of the index reported that there was a significant increase in their purchase activity last month, noting that this was part of the efforts made to overcome the accumulation of incomplete businesses, as production supplies purchases increased by its highest rate since mid -2019.

The latest study data also indicated that there is a stronger desire among oil -producing companies to protect profit margins, which included raising the sale prices at the second fastest pace in more than seven years, and this happened despite the decline in the pressure of production requirements.

The “PMI) index for the average season, a decrease from 55 points in February to 54 points in March, pointing to a slower improvement, but strong in the performance of the sector.

The improvement in operating conditions is due to the increase in sales volume in the various sectors of the non -oil -producing economy.

Many companies participating in the study pointed to the acquisition of new customers in light of the improvement in the demand rate, with the high business activity in the non -oil -producing private sector in a sharp way last March.

David Owen, a first economist at S & B Global Market, said, David Owen said:

He added: “Efforts have increased to overcome obstacles related to productive ability in March, as companies bought production requirements in large quantities to try to liquidate accumulated business, and the increase in purchase activity reached its fastest pace since mid -2019, while the decrease in the volume of inventory indicated that these new production requirements were quickly integrated into production operations.”

. Procurement for production requirements record the highest rate since 2019.