JOB CREATION REMAINS STRONG IN THE UAE: The UAE's non-oil sector exhibited strong performance in May, with job creation remaining robust. According to the UAE PMI, firms demonstrated increased confidence in future activity, leading to the highest 12-month outlook since October 2021. The S&P Global UAE Purchasing Managers' Index recorded a solid improvement, with a reading of 55.5, indicating growth. Operating conditions improved primarily due to increased sales volumes, driven by new clients, enhanced marketing efforts, and growing travel and tourism. Domestic demand fueled the rise in new business, while export sales remained stable. The positive trend reflects growing economic prospects, with expectations for future activity consistently improving over the past five months, reaching the highest level since late 2021. (By Nivetha Dayanand, Web Editor)
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