Health of the non-oil private sector in Dubai improved in JuneStaff Writer | July 10, 2018
The health of the non-oil private sector in Dubai improved at a marked rate in June.
Emirates Wholesale & retail was the strongest performer in June
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. ■