Dubai’s private sector signals robust growth at start of 2017
This was highlighted by the seasonally adjusted Emirates NBD Dubai Economy Tracker Index. The index was registering 57.1 at the start of the year, up from 55.9 to signal the fastest rate of improvement in 23 months.
Furthermore, all the three key sub-sectors monitored by the survey recorded marked rates of expansion.
By sector, travel & tourism remained the best performing category at the start of the year (index at 57.8), closely followed by wholesale & retail (57.7) and construction (55.4).
The headline Emirates NBD Dubai Economy Tracker Index is derived from individual diffusion indices which measure changes in output, new orders, employment, suppliers’ delivery times and stocks of purchased goods.
A reading of below 50.0 indicates that the non-oil private sector economy is generally declining; above 50.0, that it is generally expanding. A reading of 50.0 signals no change.
The survey covers the Dubai non-oil private sector economy, with additional sector data published for travel & tourism, wholesale & retail and construction. ■