RTTNews | Jan 5, 2022 07:02AM EST

07:01 Wednesday, January 5, 2022 (RTTNews.com) - The UAE non-oil private sector growth eased slightly in December, survey results from IHS Markit showed on Wednesday.

The Purchasing Managers' Index dropped to 55.6 in December from 55.9 in November. A score above 50 indicates expansion.

New orders increased sharply in December and new export orders expanded.

Output increased in December and backlogs of work rose for the sixth straight month.

Input prices rose sharply in December, while output charges declined for the fifth straight month.

Business confidence for the next 12 months dropped to the lowest in three months.

"The next few months may prove more challenging, however, depending on how the Omicron variant impacts worldwide travel and local restrictions," David Owen, an economist at IHS Markit, said.

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