阿联酋ADX综合指数 (ADXGeneral) 加自选

标准普尔全球阿联酋采购经理人指数从8月份的53.3升至2025年9月的54.2，为2月份以来的最高水平。新订单以七个月来最快的速度增长，从8月份的四年低点反弹，这得益于需求增强、客户参与度提高和新项目的支持。这推动了产出的强劲增长。企业的回应是以自5月以来最快的速度提高就业率。积压的工作继续积累，尽管最近的增长是20个月来第二疲软的。9月份的采购活动也出现反弹，此前一个月出现了四年多来的首次下降，而交货时间的改善是五个月来最好的。然而，企业对库存仍持谨慎态度。谈到价格，9月份产出价格通胀有所缓和，因为对新工作竞争的担忧进一步限制了企业转嫁更高成本的能力。最后，对未来一年的预期仍然非常乐观。

The S&P Global UAE PMI rose to 54.2 in September 2025 from 53.3 in August, marking the highest level since February. New orders expanded at the fastest pace in seven months, rebounding from August’s four-year low, supported by stronger demand, increased client engagement, and new projects. This drove a robust increase in output. Firms responded by raising employment at the sharpest rate since May. Backlogs of work continued to accumulate, although the latest uptick was the second weakest in 20 months. Purchasing activity also rebounded in September, following its first decline in over four years the previous month, while improvement in delivery times was the best recorded in five months. However, firms remained cautious with regards to their inventories. Turning to prices, output price inflation softened in September, as concerns about competition for new work further limited firms' ability to pass on higher costs. Finally, year-ahead expectations remained firmly positive.

在石油产量增加和非碳氢化合物行业强劲增长的支持下，阿拉伯联合酋长国经济目前预计在2025年将增长4.9%，高于此前预测的4.4%。央行在其季度更新中表示，随着石油产量按照欧佩克+配额增加，预计2025年碳氢化合物行业将增长5.8%，2026年将增长6.5%。与此同时，预计2025年非碳氢化合物GDP将增长4.5%，2026年将增长4.8%。这些行业可能受益于油气增长强劲的间接影响，包括投资增加、政府支出增加和经济信心增强。第一季度，阿联酋国内生产总值同比增长3.9%，非碳氢化合物增长5.3%。制造业、金融服务业、建筑业和房地产行业引领了这一扩张。

The United Arab Emirates' economy is now expected to grow 4.9% in 2025, up from earlier forecasts of 4.4%, supported by higher oil production and robust growth in the non-hydrocarbon sector. In its quarterly update, the Central Bank said the hydrocarbon sector is projected to expand by 5.8% in 2025 and 6.5% in 2026, as oil production increases in line with OPEC+ quotas. Meanwhile, non-hydrocarbon GDP is forecast to grow by 4.5% in 2025 and 4.8% in 2026. These sectors may benefit from the indirect effects of stronger hydrocarbon growth, including increased investment, higher government spending, and improved economic confidence. In the first quarter, UAE GDP advanced 3.9% year-on-year, driven by non-hydrocarbon growth of 5.3%. The manufacturing, financial services, construction, and real estate sectors led this expansion.

标准普尔全球阿联酋采购经理人指数在2025年8月为53.3，高于上个月52.9的四年多来的低点。这一好转主要是由更快的产出增长推动的，在更强劲的销售、正在进行的项目和有弹性的国内需求的支持下，产出增长达到了六个月来的最高点，略高于调查的长期平均水平。然而，新订单量降至2021年6月以来的最低水平，反映出竞争压力加剧和供应链持续中断。在通胀方面，投入成本连续第二个月以更快的速度上涨，达到2月份以来的最高水平。作为回应，非石油公司适度提高了售价，涨幅是五个月来最快的，也是有史以来最高的。最后，8月份商业信心有所改善，因为非石油公司表示乐观，认为国内稳定的经济状况和与客户的牢固关系将支持来年的持续增长。

The S&P Global UAE PMI came in at 53.3 in August 2025, picking up from a more than four-year low of 52.9 in the previous month. The upturn was mainly driven by faster output growth, which hit a six-month high and slightly exceeded the survey’s long-run average, supported by stronger sales, ongoing projects, and resilient domestic demand. However, new order volumes declined to its lowest level since June 2021, reflecting intensifying competitive pressures and ongoing supply chain disruptions. On the inflation front, input costs rose at a faster pace for the second month in a row, reaching its highest level since February. In response, non-oil firms modestly raised selling prices, with the rate of increase the quickest in five months and among the highest on record. Finally, business confidence improved in August, as non-oil companies expressed optimism that stable economic conditions at home and strong relationships with clients would support continued growth in the coming year.

标准普尔全球阿联酋采购经理人指数从6月份的53.5降至2025年7月的52.9，标志着非石油业务活动自2021年6月以来最弱的扩张。经济放缓是由于持续的地缘政治紧张局势，特别是以色列和伊朗之间的紧张局势，抑制了客户需求和旅游业，并导致新订单出现自2021年8月以来的最温和增长。尽管销售疲软，但随着公司寻求清理积压，产量仍然强劲。就业人数小幅上升，尽管就业增长创下四个月新低，而积压的工作以自1月以来的最快速度增加。采购活动也有所减弱，反映出需求疲软和供应链表现疲软。投入成本以三个月来最快的速度上涨，导致销售价格再次上涨。受地区紧张局势缓解后需求增强的预期支撑，商业信心略有改善。然而，企业指出，竞争加剧、库存紧张和招聘限制是挥之不去的下行风险。

The S&P Global UAE PMI fell to 52.9 in July 2025 from 53.5 in June, marking the weakest expansion in non-oil business activity since June 2021. The slowdown was due to persistent geopolitical tensions, particularly between Israel and Iran, dampening client demand and tourism, and contributing to the softest rise in new orders since August 2021. Despite softer sales, output remained robust as firms sought to clear backlogs. Employment rose modestly, though job growth hit a four-month low, while backlogs increased at the fastest pace since January. Purchasing activity also softened, reflecting weaker demand and subdued supply chain performance. Input costs rose at the fastest rate in three months, leading to a renewed increase in selling prices. Business confidence improved slightly, supported by expectations of stronger demand if regional tensions ease. However, firms cited growing competition, tight inventory levels, and hiring constraints as lingering downside risks.