The UAE’s non-oil business activity continued its growth in October, driven by higher output, though demand fell to its lowest since February 2023, affecting job creation and pushing down selling prices, according to an S&P Global survey. The seasonally adjusted PMI for the UAE stood at 54.1, up slightly from September's 53.8, indicating growth in the sector. However, S&P Global’s Senior Economist David Owen highlighted a slowdown, noting that crowded market conditions weighed on sales and job creation, which fell to a 30-month low.

Despite these challenges, firms expressed optimism for continued growth, partly due to a moderation in input cost inflation. Non-oil firms experienced the slowest rise in input costs in six months, with a reduction in purchase prices and wage growth. Job growth also softened to its lowest level in 20 months as market competition impacted sales and demand.