Dubai has had strong economic demand, new client acquisitions, and increased project activity, all of which have contributed to a jump in new order intakes midway through the fourth quarter.
According to S&P Global statistics, Dubai’s Purchasing Managers’ Index remained positive despite a modest decline, falling from 57.4 in October to 56.8 in November.
According to the report, new business growth has slowed from its 52-month high in October, causing non-oil firms to feel less optimistic about the activity picture.
“The drop signaled another upturn in the non-oil private sector, as the index has regularly been above the 50 threshold since December 2020,” according to S&P Global statistics.
A rating above 50 indicates that the manufacturing sector is expanding, and despite the decrease, Dubai’s index is still growing.
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