Mubasher: Dubai’s non-oil private sector saw the “fastest” rate of improvement in 23 months in January, spurred by faster expansion in output and new orders, according to a monthly survey by Emirates NBD.
The seasonally adjusted Emirates NBD Dubai Economy Tracker Index registered 57.1 at the start of 2017, a rise from 55.9.
“While some of the improvement was attributed to new projects, price discounting is still playing a significant part in supporting demand,” according to Khatija Haque, Head of MENA Research at Emirates NBD.
By sector, travel and tourism was the best performing category at the begining 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.
