#Dubai's non-oil business conditions improve; firms get back to hiring | ZAWYA MENA Edition

Dubai's non-oil business conditions improve; firms get back to hiring | ZAWYA MENA Edition

Dubai's non-oil private sector economy expanded in July, thanks to an increased consumer spending that led to the joint-fastest rise in output since July 2020, a business survey showed.

The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services rose from 51.0 in June to 53.2 in July, to indicate improvement in non-oil private sector business conditions.

Travel and tourism firms saw the most marked improvement in output growth since June, with wholesale and retail and construction also recording faster expansions.

Though business conditions remained subdued, firms recruited at the quickest rate in more than 18 months. While some companies raised their output charges due to higher costs, a greater number lowered their charges in spite of rising input prices due to global raw material shortages.