S&P Global Dubai PMI data shows growth remained strong in April

S&P Global Dubai PMI data shows growth remained strong in April

The seasonally adjusted S&P Global Dubai Purchasing Managers' Index (PMI) registered at 54.7 in April, down from 55.5 in March but above the 50.0 no-change mark for the seventeenth consecutive month. Despite falling for the first time since January, the index signalled a strong improvement in business conditions in the non-oil private sector.

Business conditions in the Dubai non-oil private sector economy maintained a strong pace of improvement during April, according to the latest PMI survey data. Another sharp rise in new orders underlined a marked increase in output levels that was only slightly softer than March's 32-month record. The recovery in demand led to a further uptick in business optimism, but efforts to secure further sales meant that output charges continued to fall. Despite increasing reports of rising raw material and fuel prices, overall cost pressures across the non-oil sector remained only modest.