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UAE sees strong non-oil economy performance

According to the HSBC UAE Purchasing Managers' Index (PMI), the UAE's non-oil private sector economy continued to expand in December last year, despite growth easing to a three-month low, Khaleej Times has reported. The PMI index rose to 53 points in December, compared to 52.92 points in November. Improving business conditions encouraged UAE non-oil private sector companies to increase staff salaries and wages in December. Labour costs rose marginally, following a slight decline in the previous month.