Dubai’s non-oil sector sustains its growth owing to Expo 2020 visits
Date
12/12/2021 3:11:34 AM
(MENAFN) Dubai's non-crude Economy sustained its growth during November, with business circumstances recording their highest improvement in over two years, supported by an increase in new business and a recovery in global travel associated with Expo 2020.
The UAE’s seasonally adjusted IHS Markit Purchasing Managers' Index stayed at 54.5 during November, the same as last month's level, to mark the mutual-strongest development in operating conditions since October of two years ago. Moreover, a reading more than 50 shows economic growth whereas one under points to a reduction.
According to IHS Markit economist David Owen, "the Expo 2020 continued to bring strong growth to the Dubai non-oil economy in its second month while new business growth picked up to the fastest for more than two years,” and added, “travel and tourism appeared to benefit the most of the three monitored sectors, with wholesale and retail also firmly in growth territory.”
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