(MENAFN) The Standard & Poor's Global Purchasing Managers' Index (PMI) has revealed a deceleration in the growth of new business in Dubai's non-oil sectors during November. This has subsequently led to a decline in companies' expectations for the upcoming year, with heightened concerns over increased competition and challenging sales conditions. The PMI data indicates a notable shift in sentiment and outlook among businesses operating in Dubai.

In particular, output expectations among these businesses witnessed a decline, resulting in a relative calm in the labor market throughout November. This decline marks the first in three months, reflecting a cautious stance amid evolving market dynamics. Despite these challenges, the non-oil private sector in Dubai demonstrated a significant improvement in operating conditions. Activity levels maintained a robust upward trend, and inventory volumes continued to rise at a rapid pace.

The nuanced scenario outlined by the PMI data underscores the complex interplay of factors influencing Dubai's non-oil sectors. While concerns about competition and sales conditions weigh on companies' expectations, the overall operating conditions remain positive. As Dubai navigates these dynamics, businesses are likely to strategize and adapt to the evolving landscape to sustain growth and resilience in the face of uncertainties.

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