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Non-oil private sector growth in Dubai softens to five-month low

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Staff Writer |
Dubai workers
Middle East   September’s overall improvement in business conditions remained solid

Growth in Dubai’s private sector ended the third quarter on a weaker footing, with the latest expansion being the slowest since April.

A contraction in employment and softer output growth contributed to the slight loss of impetus.

Nonetheless, September’s overall improvement in business conditions remained solid overall.

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 54.4 in September, down from 55.2 in August.

Scoring above the 50.0 no-change mark, the latest figure signalled a solid overall expansion, albeit one that was below the historical average.

At the sector level, travel & tourism was once again the weakest performing category at 51.3 in September, followed by construction (53.8) and wholesale & retail (55.5) respectively.

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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