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Dubai’s private sector growth momentum eases

Staff Writer | March 10, 2017
February data signalled a further improvement in overall business conditions across Dubai’s private sector economy, underpinned by sharp rises in output and incoming new work, with the growth of the latter picking up to a 24-month high.
Emirates Dubai
Emirates   Emirates NBD Dubai Economy Tracker
At 56.2 in February, the seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – registered above the crucial 50.0 threshold for the twelfth month in succession.

The latest reading was down from January’s 23-month high of 57.1, but was above the series average (55.1).

Wholesale & retail was the best performing category for the first time in six months (index at 58.3), followed by travel & tourism (index at 57.0). Meanwhile, construction companies recorded a slowdown in growth momentum during February, with the headline index down to 53.3, from 55.4 at the start of the year.

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.