The IHS Markit United Arab Emirates PMI was down to 49.3 in January 2020, the first contraction since the survey began, from 50.2 in the previous month. New orders fell for the second time in three months, amid a slow business environment, in particular within the domestic economy, while output failed to grow for the first time in ten years. In addition, workforce numbers dropped at one of the strongest rates on record, mainly due to cost-cutting strategies. With capacity dwindling, backlogs of work continued to pile up, although this was often attributed to credit issues. Meanwhile, new orders from abroad grew for the third month in a row and at a faster rate, and input purchases rose further. On the price front, input cost rose for the fifth month in a row amid increased wages, while purchase prices were broadly unchanged. Selling prices, meantime, fell further due to strong competition. Lastly, confidence weakened slightly, though it held strong overall.
Manufacturing PMI in the United Arab Emirates averaged 55.23 points from 2011 until 2020, reaching an all time high of 61.20 points in October of 2014 and a record low of 49.30 points in January of 2020. This page provides the latest reported value for - United Arab Emirates Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics
Manufacturing PMI in the United Arab Emirates is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in the United Arab Emirates to stand at 59.00 in 12 months time. In the long-term, the United Arab Emirates Non-Oil Private Sector PMI is projected to trend around 58.00 points in 2021 and 56.00 points in 2022, according to our econometric models.