Dubai non-oil business conditions broadly unchanged; rise in activity expected | ZAWYA MENA Edition
Dubai's non-oil private sector registered the slowest output growth in five months according to the October PMI survey, signalling a setback for the economic recovery.
At 49.9 in October, the seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) indicated that business conditions across the non-oil private sector were broadly unchanged over the month. Falling from 51.5 in September, the reading also signalled an end to the run of growth observed throughout the third quarter of the year.
Firms saw only a slight rise in new work, while job shedding quickened from September but remained softer than in the prior six months.
Most notably, the degree of positive sentiment regarding the year-ahead outlook for activity fell to its lowest since this index began in April 2012, IHS Markit said.
Businesses in Dubai reported the weakest rise in activity in the last five months of expansion during October, which was in part due to a softer - and only marginal - upturn in new orders.
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