Dubai’s business conditions remain growing in spite of new variant worries

2022-02-09 04:34:37

(MENAFN) Business circumstances in Dubai's non-oil private sector economy sustained its growth last month, although at a slower speed, pushed by a rise in new purchases and enhance in production in spite of Omicron wave.

The country’s seasonally adjusted IHS Markit Purchasing Managers' Index reading amounted at 52.6 this month, dropping from 55.3 in December. A reading higher than 50 shows economic growth, whereas one under points to a drop.

The index was higher than the 50 neutral mark for the 14th month in a row, registering a robust improvement in business circumstances in the non-oil private sector. Activity in Dubai’s private sector economy was at its sturdiest level in two and a half years in the last month of 2021, amidst a demand increase from Expo 2020 Dubai.

MENAFN09022022000045013568ID1103663380

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.