UAE non-oil growth soars amid moderate inflation rate (2)

The increased level of production was driven by marked growth of new orders, the HSBC report said. "Anecdotal evidence linked the increase in incoming new work to greater demand, particularly in international markets."

According to the report, despite the bank's positive judgement of the UAE economy, the inflationary environment remained modest at the same time, and it pointed out that the UAE faces a paradox.

"As has been the case in each month since February, UAE non-oil private sector firms reported larger purchaser prices and staff costs during October," the report said. "However, the latest increase was only marginal, and the joint-weakest (with April) in the current sequence of inflation. Highlighting the weakness in the rate of wage inflation, close to 97 percent of panelists recorded no change in average salaries during the month."

Recommended Features: [Special]'Made in China' Revisited From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance The Vision of A Pillar Industry China: A Fast- growing Force in IPR IPR in China: Local Roots Bearing Global Fruits IPR in China: Causes for the Thriving Cause Cultural Industry: Commercializing Kung Fu Canton Fair wraps up on Sunday