15

Jul

DYNAMIC GROWTH SHOWN BY DUBAI BUSINESS

By PBSolutions
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Business conditions survey for September held in Dubai, non-oil private sector indicated a continuous growth in production levels in private sector’s economy of Dubai.

The data for the Dubai Economy Tracker depicts that rate of overall business activity and new orders growth were softer in comparison to those observed on average during the first half of 2015.

Thus, Private sector groups were cautious in staff hiring during September and the recent development of employment numbers being slowest for three-and-a-half years.

Inflation rates have decreased while input costs rising gradually since May.

The survey, Sponsored by Emirates NBD and produced by Markit indicates operating conditions in Dubai. Dubai non-oil private sector economy is covered in survey, other data for travel and tourism, wholesale and retail was also published.

Services and business activities:

The Emirates NBD Dubai Business Activity Index posted 56 in September, to remain well above the neutral 50 threshold. This index dipped from 57.6 in August, faster rate of output expansion is seen in the latest reading.

Construction companies have shown the strongest rise in business activity.

Wholesale & retail firms did well too, with increasing business activity since April. While in travel & tourism sector only a small growth.

Expected Business activity:

Firm in Dubai private sector firms are positive about the 12-month business outlook, although the positive sentiment remained bit weaker as compared to average seen in early 2015.

Travel & tourism showed the fastest projection for growth over the year ahead, supported by hopes of more helpful economic conditions across the region.

Input expenditure and average cost charged

Across the Dubai private sector, average cost burdens increased slowly, indicating subdued increase in price of raw material. The overall rate of input price inflation eased to its lowest in four months.

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