Dubai – Mubasher: Business conditions across Dubai’s private sector economy saw a “sharp improvement” in March, according to a statement.
The sector was backed by the expansion in output, new orders, and employment and stocks of purchases at a faster pace than in the preceding month.
The seasonally adjusted Emirates NBD Dubai Economy Tracker Index rose from 56.2 in February to 56.6 in March, its second-sharpest upturn in business conditions for over two years. The average of 56.7 recorded in the first quarter of 2017 was the sharpest since the first quarter of 2015.
The wholesale and retail sector (index at 57.1) was the best performing sub-sector, followed by travel and tourism (55.3) and construction (54.8).
The latest upturn in operating conditions was mainly attributed to a “robust and accelerated” expansion of business activity.
