Dubai private sector economy deteriorates for first time since 2010 | The National

Dubai private sector economy deteriorates for first time since 2010 | The National:

"Dubai’s non-oil private sector economy contracted last month as global uncertainty and low prices continue to weigh on activity.

The Emirates NBD Dubai Economy Tracker reading of 48.9 was down from 50.7 in January, and marked the first deterioration in overall operating conditions since data collection began in 2010. A reading of below 50.0 indicates that the private sector economy is generally declining; above 50.0, that it is expanding. A reading of 50.0 signals no change.

Travel and tourism companies noted the fastest deterioration in business conditions, according to the survey, while the health of the construction, wholesale and retail sectors also deteriorated, albeit at marginal rates."



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