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Dubai / Emirates Business
May data highlighted a robust improvement in the health of the non-oil private sector, with output and new orders expanding at a sharp rate. The respective rates of expansion eased since April. This was highlighted by the seasonally adjusted Emirates NBD Dubai Economy Tracker Index — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy.
Sub-sector data indicated that construction companies experienced
the fastest improvement in business conditions (index at 56.2), followed
by wholesale & retail (55.5) and travel & tourism (54.2).
A reading of below 50.0 indicates that the non-oil private sector economy is generally declining; above 50.0, that it is generally expanding. A reading of 50.0 signals no change.