Dubai economy shows sign of recovery.

The rate of decline in Dubai's non-oil private sector economy slowed but endured a further downturn in May following the easing of some strict lockdown restrictions imposed since March combat the coronavirus pandemic, the latest purchasing managers' survey revealed.

The IHS Markit Dubai Purchasing Managers' Index increased to 46 in May from 41.7 in April but was still below the 50.0 mark that separates growth from contraction.

'While the Dubai PMI ticked up from the record low suffered in April, the latest survey data suggested economic conditions remain a long way from recovery in May,' said David Owen, economist at IHS Markit.

'Businesses highlighted that despite restrictions on economic activity being partly lifted, weak consumer demand and a slow market response stopped them from making headway into covering their losses,' said Owen.

'Subdued demand prompted further cuts to jobs, although the fall in...