Sharp rise in Dubai private sector outputStaff Writer | August 11, 2016
Dubai private sector companies signalled a positive start to the third quarter of 2016, with overall business conditions improving at the fastest pace since March 2015.
UAE Emirates NBD Dubai Economy Tracker
The index has signalled a recovery in operating conditions in each month since the series-record low seen in February. Moreover, the latest reading is now back above the long-run survey average (55.1).
The best performing sub-sector monitored by the survey was wholesale & retail (index at 57.3 in July), followed by travel & tourism (55.1) and construction (53.5). In each case, the latest readings were above the crucial 50.0 no-change value.
The headline Emirates NBD Dubai Economy Tracker Index is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery times and stocks of purchased goods.
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. ■