Dubai’s private sector growth momentum easesStaff 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 Emirates NBD Dubai Economy Tracker
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. ■