Dubai – Mubasher: Dubai’s non-oil private sector saw a further improvement in overall business conditions in February, backed by higher output and incoming new work, according to a statement.
The seasonally adjusted Emirates NBD Dubai Economy Tracker Index was down from January’s 23-month high of 57.1 to reach 56.2 in February.
The wholesale and retail category was the best performer for the first time in six months, followed by travel and tourism.
On the flipside, construction companies saw a slowdown in growth momentum in February.
“Strong growth in output and new orders, which points to solid GDP growth in Q1-17, is not being reflected in higher employment however, and competition continues to weigh on selling prices,” according to Khatija Haque, head of MENA research at Emirates NBD.
