Business conditions in Dubai continued to strengthen in February as output and employment numbers rose amid growing confidence among firms for a strong economic recovery in 2021.
However, the rate of expansion was stymied by a renewed fall in new business inflows that was centered on the travel & tourism sector, a new survey from HIS Markit said.
The seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) posted 50.9 in February, up slightly from 50.6 in January and signalling a third successive monthly improvement in operating conditions.
The IHS Markit survey covers the Dubai non-oil private sector economy, with additional sector data published for travel & tourism, wholesale & retail and construction.
The sales volumes in the non-oil sector fell for the first time since May 2020, mostly due to increased restrictions on consumer-facing services during the month amid efforts to suppress a recent rise in COVID-19 cases.
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