Improvement in business conditions sustained in Dubai
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The seasonally adjusted 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 – remained unchanged from July at 56.3 in August.
August data pointed to sharp growth across the three key sectors monitored by the survey.
Wholesale & retail was the best performing category (index at 56.3), followed by construction (55.8) and travel and tourism (55.1).
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. ■