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DUBAI, March 3 (Xinhua) -- The HSBC purchasing managers' index (PMI) for the United Arab Emirates (UAE) dropped to 58.1 points in February, down from 59.3 in January [url=http://www.cheapmlbastrosjerseys.com/mike-scott-jersey/]Mike Scott Jersey[/url] , the British lender said here on Tuesday.
The survey-based HSBC report on the UAE's PMI said the slowdown was driven by milder expansions in output, new orders and new export business. A PMI above 50 points to an expanding economy and vice versa.
The HSBC UAE PMI gives a snapshot indication of the Gulf Arab state's business activity in the non-oil private sector. The purchasing activity also rose at a slower pace during the month, contrasting with a faster rate of job creation.
Meanwhile, employment increased for the 38th successive month in February [url=http://www.cheapmlbastrosjerseys.com/jose-cruz-jersey/]Jose Cruz Jersey[/url] , supported by ongoing growth of output and new business.
The rate of purchase price inflation, on the other hand, eased to a four-and-a-half year low, mainly driven by lower fuel prices [url=http://www.cheapmlbastrosjerseys.com/jimmy-wynn-jersey/]Jimmy Wynn Jersey[/url] , said HSBC.
However, Nasser Saidi, a renowned independent Dubai-based economist, said earlier in the week that oil was on the recovery track.
"Oil prices consolidating their gains as the 12 percent monthly gain in February was one of the largest in several years [url=http://www.cheapmlbastrosjerseys.com/andy-pettitte-jersey/]Andy Pettitte Jersey[/url] ," said Saidi.
Philip Leake, economist at Markit Financial Services company which compiled the report for HSBC, said despite the drop of business action last month, "the outlook for the UAE remains bright [url=http://www.cheapmlbastrosjerseys.com/dallas-keuchel-jersey/]Dallas Keuchel Jersey[/url] , with employment rising at a faster pace and cost pressures easing as a result of lower fuel prices."
Earlier in the year, the International Monetary Fund (IMF) cut its growth forecast for the whole UAE economy to 3.5 percent for 2015, down by one percent from its October 2014 projection.
The IMF said the recent slump in oil prices from over 100 dollars (Brent crude) in mid 2014 to 43 dollars per barrel at the end of January 2015 would weigh on the UAE's economic growth.
Brazil Apparel Market : Industry Analysis, Future Growth [url=http://www.cheapmlbastrosjerseys.com/jose-altuve-jersey/]Jose Altuve Jersey[/url] , Business Prospects and Forecast to 2025
19 September 2018
The Brazil apparel market is projected to reach USD 42.80 billion by 2025,
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income of people and growing consciousness for international fashion trends are
the key factors contributing to the growth of the market. Factors such as
increasing shift towards international fashion along with spiraling number of
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