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December 13, 2015 | 11:45 | Dubai
November data highlighted a modest rebound in business conditions across the Dubai private sector, with output, new orders and employment all expanding at a faster pace than in the previous month, according to the latest Emirates NBD Dubai Economy Tracker. The survey covers the Dubai non-oil private sector economy, with additional sector data published for travel & tourism, wholesale & retail and construction. Among the key findings of the survey are, namely, private sector output growth accelerates from the 68-month low recorded in October; construction remains the best performing sub-sector, followed by wholesale & retail; and travel & tourism returns to growth and experiences a recovery in job creation.
Emirates NBD Dubai Economy Tracker Index — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy — picked up from 51.9 in October to 53.4 in November. The latest reading was comfortably above the neutral 50.0 value, but signalled a slower pace of improvement than the average since the series began in 2010 (55.3). Stronger output growth was a key factor boosting the headline index in November.