The seasonally adjusted Dubai Purchasing Managers' Index rose for the second month in a row, to 56.1 points in June from 55.7 points in May 2022, recording the highest reading since June From the year 2019.
The Standard & Poor's Global Purchasing Managers' Index (PMI) is a seasonally adjusted composite index that provides an overview of operating conditions in a non-productive private sector economy. For oil, any reading above the 50 point level is considered neutral, as positive.
The volume of new business in Dubai rose sharply during June, accelerating the growth rate to its highest level since July 2019, and the recovery in demand after the epidemic subsided and the increase in promotions contributed , to increase sales.
According to the data, travel and tourism remain the main driver of growth in the emirate, with businesses experiencing a revival in travel activity after border restrictions were eased.
The new business in construction companies also witnessed a recovery during the last study period, after it had declined in May.
Many companies recorded an increase in input costs in June, especially in fuel prices, which witnessed a jump due to global supply concerns, and the inflation rate of input costs was Production is the highest since January 2018, driven by record increases in expenditures in both the construction and wholesale and retail sectors.
