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Health of the non-oil private sector in Dubai improved in June

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Staff Writer | July 10, 2018
Dubai workers
Emirates   Wholesale & retail was the strongest performer in June

The health of the non-oil private sector in Dubai improved at a marked rate in June.

Although the headline index fell from May’s recent peak, reflecting easing travel & tourism growth momentum, stronger expansions were registered in both the wholesale & retail and construction sectors.

Furthermore, business confidence accelerated to a survey-record high in June amid a strong pipeline of new projects and work outstanding.

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 – fell to 56.0 in June, from 57.6 in May.

Despite the headline figure falling from that recorded in May, it remained at a level indicative of a marked expansion that was above the historical average.

Wholesale & retail was the strongest performer in June (58.6), followed by construction (57.1) and travel & tourism respectively (54.9).

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.


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