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Emirates NBD Dubai Economy Tracker’s September data signalled a sustained upturn in output levels within Dubai’s private sector economy, helped by growth across all three key sub-categories of activity monitored by the survey.
Dubai private sector firms are highly optimistic regarding the 12-month business outlook. Travel & tourism companies indicated the most upbeat projections for growth over the year ahead, underpinned by hopes of more supportive economic conditions across the region, as per the survey sponsored by Emirates NBD and produced by Markit.
Overall rates of business activity and new orders growth were, however, softer than those seen on average through the first half of 2015. As a result, private sector companies were more cautious in terms of their staff hiring in September, with the latest expansion of employment numbers the slowest for three-and-a-half years.
Meanwhile, inflationary pressures continued to moderate, with input costs rising at the slowest pace since May and average prices charged were broadly unchanged over the month.