The private sector in the Emirate of Dubai, in the United Arab Emirates, recorded 65.2 last September, continuing to achieve growth for the 22nd consecutive month, according to the reading of the “Purchasing Managers’ Index” survey for August, issued by the international credit rating agency “S&P Global”.
In the report attached to the survey results, the Corporation stated that business conditions in the private sector in Dubai continued to improve during the month of September, at a strong rate, despite the slight decline in the momentum it gained in August when it recorded a record high.
The report added that the pace of expansion in private sector activities recorded in September the second highest rate in more than 3 years, and the majority of private companies in Dubai were able to increase their activities in September, with the increase in the influx of new business.
With regard to sales, the private sector in Dubai recorded growth during September, and the main driver of this growth was the increase in sales in the wholesale and retail trade sector, which recorded its highest rates in 38 months. Moreover, new business in the travel and tourism sector increased during September strongly.
The report stated that the construction sector witnessed a slight increase in new orders during September, while employment rates in the non-oil private sector in Dubai recorded a slight increase, according to the Emirati newspaper Al Bayan.
Private companies in Dubai continued, for the second month in a row, to reduce selling prices during September, with the aim of making their prices accessible to the largest possible number of customers, but the rate of price reduction was lower than in August.
The expectations of private companies in Dubai witnessed a recovery during September in the levels of their positive expectations and the optimism of their officials about their future activities.
