Business conditions in Dubai improve at a faster rate in Q1 – Gulf Today
- Date: 11-Apr-2023
- Source: Gulftoday.ae site:gulftoday.ae
- Sector:Financial Markets
- Country:UAE
Business conditions in Dubai improve at a faster rate in Q1 – Gulf Today
Photo used for illustrative purpose.
The Dubai PMI pointed to an uplift in growth momentum at the end of the first quarter of 2023, as firms placed greater emphasis on building capacity levels to support an expansion in output.
This was reflected in stronger increases in both jobs and inventories, with growth rates reaching multi-year records. However, the latest data also indicated signs of slippage in demand growth, as new orders rose to the least extent since January 2022.
The headline S&P Global Dubai Purchasing Managers’ Index (PMI) is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery times and stocks of purchased goods.
The headline index rose to 55.5 in March, up from 54.1 in February and to the highest level in five months.
The index signalled a sharp improvement in non-oil business conditions, with the uptick supported by
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