Dubai Closer to Vanquishing Deflation But Economic Chill Sets In - Bloomberg:
Dubai is closer to emerging from a prolonged bout of deflation even as business conditions turn worse.
Prices were “broadly unchanged” in August after output charges declined in each of the past 15 months, according to IHS Markit. At the same time, its Dubai Purchasing Managers’ Index dropped to its lowest level in more than three years, approaching the threshold of 50 that separates growth from contraction.
“Future output expectations dimmed but remained relatively strong,” David Owen, economist at IHS Markit, said in a report on Monday. “Selling prices were close to stabilization during August.”
No comments:
Post a Comment