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Tuesday, 13 June 2017

Dubai’s business conditions improve, but growth momentum eases | GulfNews.com

Dubai’s business conditions improve, but growth momentum eases | GulfNews.com:

"The Emirates NBD Dubai Economy Tracker Index (DETI) for May points to strong but slower growth in Dubai’s economy, which is consistent with the UAE and Saudi Arabia PMI surveys for May.
DETI declined to 55 in May from a 26-month high of 57.7 in April. Firms surveyed indicated that more projects, particularly in the construction sector, boosted business activity in May. Employment (50.7) rose slightly in May.

“The decline in the DETI in May is consistent with what we’ve seen in the regional country surveys. However, the data still points to a robust expansion in the non-oil private sector last month. The construction sector survey is particularly encouraging with the sector index near the highest level in one-and-a-half years,” said Khatija Haque, Head of Mena Research at Emirates NBD."



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