Dubai non-oil private sector growth slows in August: PMI - Reuters:
Dubai’s non-oil private sector expanded marginally in August, its second straight month of growth, though at a slower pace than in July, while weak demand led to a sixth month of job cuts, a survey showed on Wednesday.
The seasonally adjusted IHS Markit Dubai Purchasing Managers’ Index (PMI) fell to 50.9 in August from 51.7 in July, slightly above the mark that separates growth from contraction.
In June the index was at 50.0, emerging from three consecutive months of contraction.
“Dubai’s non-oil economy saw a disappointing slowdown in growth in August, as the PMI fell for the first time since April,” said David Owen, economist at survey complier IHS Markit.
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