Nobody Knows How Dubai’s Economy’s Been Doing Lately - Bloomberg:
In Dubai, the focus is often too much on the economy of tomorrow rather than that of the recent past.
Even as it constructs the Museum of the Future ahead of an opening next year, the Middle East’s financial hub still hasn’t reported how its gross domestic product performed since 2017. Also missing are other figures considered basic elsewhere, ranging from retail and auto sales to industrial production.
The lack of an accurate read on the $106 billion economy leaves investors and businesses already stung last year by the world’s worst equity performance struggling to decide if it’s time to start buying. The official vacuum often forces them to glean insights from anecdotal conversations with retailers, owners of car dealerships and business conglomerates.
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