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UAE firms hike prices at record pace as costs surge, PMI shows

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Gulf News
“UAE firms hike prices at record pace as costs surge, PMI shows”

Dubai: The UAE’s non-oil private sector kept growing strongly in October, but firms raised selling prices at the fastest pace on record as costs surged. The S&P Global UAE Purchasing Managers’ Index (PMI), released on November 4, shows the strain on margins even as demand held up. The headline reading eased from September but stayed well above the 50 mark. David Owen, principal economist at S&P Global Market Intelligence called the move unprecedented but also pointed to solid improvement in…

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