Business conditions strengthen in Dubai in JuneStaff Writer | July 14, 2016
June data pointed to a sustained recovery in growth momentum across the Dubai private sector, led by improving business conditions in the travel & tourism and wholesale & retail sectors.
Emirates The fastest rise in new work since March 2015
The index has now registered above the crucial 50.0 no-change threshold for four consecutive months. The rise in the index since May was largely driven by a sharp and accelerated expansion of incoming new work.
Wholesale & retail was the best performing sub-sector monitored by the survey in June (headline index at 58.2), followed by travel & tourism (54.1). Meanwhile, the latest survey pointed to only a modest upturn in construction sector business conditions (51.5).
The headline Emirates NBD Dubai Economy Tracker Index is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery times and stocks of purchased goods.
A reading of below 50.0 indicates that the non-oil private sector economy is generally declining; above 50.0, that it is generally expanding. A reading of 50.0 signals no change.
The survey covers the Dubai non-oil private sector economy, with additional sector data published for travel & tourism, wholesale & retail and construction. ■