#Dubai’s business conditions continue to remain at two-year high on Expo 2020 boost

Dubai’s business conditions continue to remain at two-year high on Expo 2020 boost

Dubai's non-oil economy continued to grow in November, with business conditions registering their sharpest improvement in more than two years, helped by a pick-up in new business and a rebound in international travel linked to Expo 2020.

The emirate's seasonally adjusted IHS Markit Purchasing Managers' Index remained at 54.5 in November, the same as the previous month's level, to indicate the joint-strongest improvement in operating conditions since October 2019.

A reading above 50 indicates economic expansion while one below points to a contraction.

"The Expo 2020 continued to bring strong growth to the Dubai non-oil economy in its second month while new business growth picked up to the fastest for more than two years,” IHS Markit economist David Owen said. “Travel and tourism appeared to benefit the most of the three monitored sectors, with wholesale and retail also firmly in growth territory.”