September PMI data registered modest economic recovery in Dubai

September PMI data registered modest economic recovery in Dubai

The IHS Markit's Dubai Purchasing Managers' Index (PMI) has been posted at 51.5 in September, indicating a third successive monthly improvement in the performance of the non-oil private sector. The index rose from 50.9 in August but remained below that seen in July and markedly down on the series average of 54.7.The latest survey data indicated stronger increases in both output and new business across the private sector in September. Notably, the rate of sales growth reached the strongest for ten months, driven by reports of higher client demand and the starting of new projects as more economic activity resumed.The wholesale and retail sector saw another sharp rise in new orders during the month, with growth near-matching that seen in August. The strong upturn led a modest rise in construction