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Dubai Economy Tracker Index down to 53.3

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Staff Writer | November 10, 2016
Dubai Economy Tracker Index (DET) declined to 53.3 in October from 55.1 in September, signalling the slowest rate of expansion since April.
Dubai Economy Tracker
Emirates   A further improvement in business conditions
October data signalled a further improvement in business conditions across Dubai’s private sector economy, underpinned by strong rises in output and incoming new work.

At 53.2 in October, the seasonally adjusted Emirates NBD Dubai Economy Tracker Index registered above the crucial 50 no-change value for the eighth month running.

While this is well above the neutral 50-level, it is lower than the 60.7 average recorded in the third quarter of this year.

New work increased at the slowest rate in six months with this subindex at 55.4.

Despite slower growth in new work and output, private sector firms in Dubai were more optimistic on average in October, with the business expectations index at 75.8 — the highest reading since June 2015.