#Dubai’s non-oil business conditions improved at faster rate in March – PMI

Dubai’s non-oil business conditions improved at faster rate in March – PMI

Dubai’s non-oil sector grew at its fastest rate since September as companies built up capacity levels to support output expansion.

The headline index of the S&P Global Dubai Purchasing Mangers’ Index (PMI) increased do 55.5 in March, up from 54.1 in February, with any score above 50 indicating expansion.

However, companies surveyed said new orders rose to the least extent since January 2022.

The report said the index signalled a sharp improvement in non-oil business conditions, with the uptick supported by stronger growth in output, employment and stocks of purchases, alongside tighter supply side conditions.

Wholesale and retail growth reached a 14-month low, as that sector, along with travel and tourism lost momentum from their post-COVID peaks in 2022, the report said.

But, rising output meant that firms had a greater need to expand their business capacity in March.