UAE’s non-oil economy reaches lowest point in seven years

The UAE’s non-oil economy hit its weakest level in seven years in June, with the private sector PMI at 50.8, driven by weak demand, supply chain disruptions, and rising costs linked to the Iran war. While improved trade through the Strait of Hormuz eased some pressures, Saudi Arabia’s non-oil PMI rose to 53.3, while Kuwait and Qatar’s indices remained below 50.