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Dubai non-oil private sector emerges from contraction

Business Dubai 11 Jul 20
Dubai non-oil private sector emerges from contraction
Dubai’s non-oil private sector was steady in June, the first time it did not contract since February according to a survey.
Fee
Event Location
Dubai , Dubai
Area
Dubai
Start Time
11 July 2020, 12:00 AM
End Time
31 July 2020, 12:00 AM
Website

Dubai’s non-oil private sector was steady in June, the first time it did not contract since February, according to IHS Markit Dubai Purchasing Managers’ Index (PMI) survey.

The seasonally adjusted IHS Markit Dubai Purchasing Managers’ Index (PMI) increased to 50.0 in June from 46.0 in May, settling at the mark that separates growth from contraction.

David Owen, economist at survey compiler IHS Markit,“The latest PMI survey data offered hopeful signs for the Dubai non-oil private sector.”

“Some sectors were on the path back to normality, though others presented a more cautious picture, finding that demand in some areas, notably travel and tourism, was still extremely weak,” he added.


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