UAE non-oil private sector continued to flourish in the month of February offering more employment opportunities to the youth in addition to adding to the growth of nation. February data released recently, however, pointed critical price pressure.

The headline seasonally adjusted HSBC UAE PMI rose to 54.3 per cent in February compared to 54.2 per cent in January. This slight rise is attributed to improvements in both domestic and foreign demand due to improved economic conditions, company expansions, new product launches, promotional work and strong business reputations.

Simon Williams, Chief Economist for Middle East & North Africa at HSBC hoped that the growth rate will gather momentum in the wake of rising new orders and current output. He said, “Higher output prices also suggest a more resilient consumer, although real estate excesses, low bank credit and a slack labour market will keep the headline inflation rate low this year.”

UAE non-oil private sector firms saw substantial rise in activity level and employment level in February.