Business activity in Dubai’s non-oil private sector economy continued to expand in May as output increased for the sixth month running, supported by the construction sector in the emirate.
The seasonally adjusted IHS Markit Dubai Purchasing Managers’ Index slipped to 51.6 in May from 53.5 in April. A reading above 50 indicates economic expansion while one below points to a contraction.
The latest data indicates a moderate improvement in Dubai’s non-oil private sector business activity, after hitting the 17-month high in April, as it moves closer to the pre-pandemic growth trajectory amid its rapid mass Covid-19 inoculation programme.
Output grew, albeit at a slower