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Growth in the United Arab Emirates’ non-oil private sector slowed in June with weaker job creation and an easing in output growth, a survey showed on Wednesday.

The seasonally-adjusted S&P Global UAE Purchasing Managers’ Index fell to 54.6 in June from 55.3 in May, the lowest since February 2023, although still well above the 50.0 breakeven mark and indicative of a robust expansion.

“The UAE PMI highlights a slowing growth trend in the non-oil sector throughout 2024 so far,” said David Owen, Senior Economist at S&P Global Market Intelligence.

Oil rises on US crude inventory draw, Mideast tensions

“Nevertheless, companies are still enjoying strong customer demand and robust sales pipelines, which are sustaining output expectations and driving purchasing activity,” Owen said.

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