UAE - Mubasher: The adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) climbed to 54.5 in October from 51.5 in September, reflecting the growth of Dubai's non-oil economy to a two-year high.
This reading is attributed to a sharp recovery in new orders, increased tourism activity at the start of Expo 2020, and the improvement in supply chains amid the easing of travel restrictions, according to a press release on Tuesday.
Meanwhile, output recorded the sharpest improvement for more than two years, alongside the surge in demand which has led to the strongest outlook for future activity since March 2020.
However, the employment rates across Dubai's non-oil private sector marginally increased, as staff hiring was partly linked to an increase in backlogs of work, which was solid despite easing slightly compared to the previous month.
The Economist at IHS Markit, David Owen, said: "The initial surge in sales contributed to a sharp expansion in activity, suggesting that the economy is well on the way to recovering from the pandemic."
Meanwhile, Owen commented: "Job creation was again signaled across only a small proportion of the survey panel in October. However, with tourism reviving and capacity pressures growing, this will likely improve in the coming months."
