Dubai's non-oil sector grows as sales pick up.
Position | Dubai, United Arab Emirates |
Dubai's non-oil private sector strengthened in September on the back of a solid increase in sales. The IHS Markit Dubai Purchasing Managers' Index (PMI), released on Wednesday, increased to 52.6 points last month from 51.7 in August. It rose for the first time in four months. However, the latest figure was still among the lowest recorded over the past three years, signalling a relatively modest improvement in business conditions at non-oil companies. The survey results found that output volumes increased at a slower rate than those seen earlier in the year. But the pace of expansion was faster than in August, in part due to some firms boosting their marketing activity. Attention was also directed at reducing outstanding business, which fell for the first time since January 2016.
The overall contraction was only marginal...
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