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Dubai / WAM
November’s data signalled a solid upturn in Dubai’s private sector business conditions. Steep growth in both output and inflows of new work contributed to the latest expansion, the Emirates NBD Dubai Economy Tracker.
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 – eased to 55.3 in November, from 55.6 in October.
The rate of growth remained above the series’ long-run average, however. At the sector level, whole-
sale and retail companies repor-
ted the strongest improvement in business conditions.
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.