#Dubai's Economic Hopes Flying High at Cost of Huge Discounting - Bloomberg

Dubai's Economic Hopes Flying High at Cost of Huge Discounting - Bloomberg:

Dubai’s latest growth spurt is coming with a sharp discount.

Business conditions in the emirate’s non-oil private sector improved at the fastest rate in over four years in April as companies led by wholesalers and retailers offered lower prices to win orders, the seasonally adjusted Emirates NBD Dubai Economy Tracker Index showed on Thursday.

The gauge rose to 57.9 from 57.6 in March, edging further above the threshold of 50 that separates contraction from growth. The 12-month outlook for activity climbed to the strongest since the data series began in 2010.