Dubai's non-oil private sector growth slowed in January amid Omicron rise - PMI | ZAWYA MENA Edition
A rise in COVID-19 cases driven by the Omicron variant has affected growth in Dubai's non-oil private sector economy in January, according to the results of a business survey released on Wednesday.
The seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) fell for the first time in four months, from 55.3 in December to 52.6 in January, indicating a solid upturn in business conditions across the non-oil private sector.
The latest PMI data indicated a much weaker increase in new business following December's 29-month high.
The survey, which covers the Dubai non-oil private sector economy, with additional sector data published for travel & tourism, wholesale & retail and construction, showed that supply chain challenges and price pressures also persisted, “although firms continued to see a strong recovery in activity following looser stringency measures.”
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