The UAE's non-oil private sector is experiencing its most significant downturn since the COVID-19 pandemic, with economic activity reaching a five-year low and employment declining at the fastest rate since 2020.In June, the S&P Global Purchasing Managers' Index (PMI) for the UAE dropped to 50.8, barely remaining above the 50-point threshold that separates economic expansion from contraction. This marks the lowest reading since February 2021. The downturn is primarily attributed to weakened demand, disrupted supply chains, and escalating operational costs associated with the ongoing Iran war. Although improved shipping flows through the Strait of Hormuz offered some relief in June, S&P Global analysts caution that a broader economic rebound will take time.In contrast, neighboring Saudi Arabia saw its non-oil PMI rise to 53.3 points in June—its highest level since February—driven by robust investor and consumer confidence. Meanwhile, the PMI indices for Kuwait and Qatar remained below the 50-point mark, indicating contraction in their respective non-oil sectors. (ICE DUBAI)

Fonte notizia: https://www.thenationalnews.com/business/economy/2026/07/03/uaes-non-oil-business-activity-grows-at