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Wednesday, 10 August 2016

Dubai private sector output and employment surged in July | GulfNews.com

Dubai private sector output and employment surged in July | GulfNews.com:

"The Emirates NBD Dubai Economy Tracker Index (DET) rose further in July to reach 55.9, the highest reading since March 2015 signalling a positive start to the third quarter of 2016.
The rise in the DET in July was largely driven by faster growth in output and new work, with both these indices posting readings above 60 last month. Employment increased in July but at a relatively modest pace.
“The improvement in the Dubai Economy Tracker Index in July is consistent with the rise in the whole UAE Purchasing Managers Index last month, and is underpinned by stronger new work and output growth. The wholesale & retail sector in particular probably benefitted from holiday spending over Eid,” said Khatija Haque, head of MENA Research at Emirates NBD."



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