{"id":205194,"date":"2021-08-09T09:38:18","date_gmt":"2021-08-09T09:38:18","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=205194"},"modified":"2021-08-09T07:39:04","modified_gmt":"2021-08-09T07:39:04","slug":"dubais-non-oil-sector","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/dubais-non-oil-sector\/","title":{"rendered":"Dubai’s non-oil private sector conditions improve"},"content":{"rendered":"

Raising consumer spending caused Dubai’s non-oil private sector economy to rally in July, according to business survey.<\/p>\n

The climb is the joint-fastest rise in output since July 2020, the survey said.<\/p>\n

IHS Markit adjusted the Purchasing Managers’ Index (PMI<\/a>) of the UAE from 51.0 in June to 53.2 in July.<\/p>\n

The group said manufacturing and services rose in the country, indicating improvement in non-oil private sector business conditions.<\/p>\n

Travel and tourism firms saw the most marked improvement in output growth since June, with wholesale and retail and construction recording faster growth, the group said.<\/p>\n

Dubai’s non-oil sector<\/h2>\n

Companies in the UAE recruited at the quickest rate in more than 18 months, although business conditions remained subdued, the group said.<\/p>\n

Many companies lowered their charges in spite of rising input prices due to global raw material shortages, although some companies raised their output charges due to higher costs.<\/p>\n

\u201cGrowth in the Dubai non-oil economy re-accelerated in July, helped by a rise in customer numbers that boosted sales in the travel and tourism and wholesale and retail sectors,\u201d David Owen, Economist at IHS Markit, said.<\/p>\n

\u201cThis was also a key driver of employment as firms frequently mentioned hiring sales staff, leading to the fastest rate of job creation since November 2019,\u201d he said.<\/p>\n

Firms signalled increasing pressure on capacity during July, as levels of outstanding work rose to the greatest extent for more than two years, the survey said.<\/p>\n

However future business outlook remained subdued in July.<\/p>\n

Those firms that provided an optimistic outlook for the coming year said that economic recovery would depend on vaccine campaigns and Expo 2020 Dubai-related demand.<\/p>\n

The uncertain path of the pandemic and the impact of supply side problems dampened growth prospects.<\/p>\n

\u201cBusinesses will be hoping to build on the economic recovery throughout the rest of the year.\u201d<\/p>\n

\u201cAt 53.2 in July, the headline PMI was at its second highest in 20 months, to offer further reassurance that the economy is heading in the right direction,\u201d Owen said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Raising consumer spending caused Dubai’s non-oil private sector economy to rally in July, according to business survey. The climb is the joint-fastest rise in output since July 2020, the survey said. IHS Markit adjusted the Purchasing Managers’ Index (PMI) of the UAE from 51.0 in June to 53.2 in July. The group said manufacturing and […]<\/p>\n","protected":false},"author":4,"featured_media":205199,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,512],"class_list":["post-205194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-uae"],"yoast_head":"\nDubai's non-oil private sector conditions improve | BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - Raising consumer spending caused Dubai's non-oil private sector economy to rally in July, according to business survey.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/dubais-non-oil-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai's non-oil private sector conditions improve | BNReport\" \/>\n<meta property=\"og:description\" content=\"BNReport - 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