Dubai businesses return to growth in July as pandemic impact eases

Dubai businesses return to growth in July as pandemic impact eases

Dubai's non-oil economy expanded in July for the first time since its downturn began when the coronavirus pandemic upended travel and commerce.

Accompanying the improvement, however, were continuing job losses and a weaker outlook among businesses, according to IHS Markit. Its Dubai Purchasing Managers' Index rose to 51.7 last month, climbing from June's mark of 50 that separates growth from contraction.

“July PMI data for the Dubai non-oil private sector signaled the start of a post-Covid-19 recovery,” David Owen, economist at IHS Markit, said in a report