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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United Arab EmiratesUnited Arab Emirates Emirates NBD PMI climbed to 57.4 in December 2023
FMPMonthlyReleased January 2024
United Arab Emirates Emirates NBD PMI climbed to 57.4 in December 2023, released January 2024, up 0.4 from November's 57.0 reading. The reading matched the 57.2 consensus.
Latest Release
57.4
Actual
57.2
Consensus
57
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Emirates NBD PMI (United Arab Emirates) was reported at 57.40 in January 2024. This beat the market consensus of 57.20 by 0.20. The reading rose from the previous value of 57.00.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
Auto-generated from current model state · Refreshes on each release · Last update January 2024.
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Emirates NBD PMI - AE
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About Emirates NBD PMI — United Arab Emirates
DEFINITION
The Emirates NBD PMI (Purchasing Managers' Index) is a widely recognized economic indicator that measures the health of the non-oil private sector in the United Arab Emirates. It provides valuable insights into the country's economic performance by tracking changes in business activity, new orders, employment, and prices. The index is based on a monthly survey of purchasing managers from various industries, making it a reliable and timely source of information for businesses, investors, and policymakers. With its comprehensive and accurate data, the Emirates NBD PMI is an essential tool for understanding the current and future state of the UAE's economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2023): actual 57.4, consensus 57.2.