UAE - Mubasher: The IHS Markit Dubai Purchasing Managers' Index (PMI) rose to 53.3 in August from 53.2, marking the highest level recorded by the emirate's non-oil private sector economy for almost two years.
The business conditions of Dubai's non-oil activities have continued to improve over the third quarter (Q3) of 2021; hence, the employment levels have registered their fastest rate since November 2019, according to a press release on Thursday.
The improvement in the emirate's non-oil economy is driven by the fastest rise in output levels since September 2019.
However, uncertainty about the stability of customer demand has pushed companies to decrease their output charges for the second month in a row.
The Economist at IHS Markit, David Owen, said: "This suggests that the economy is solidifying its recovery from the pandemic, especially as a relaxation of travel measures drove tourism numbers higher and boosted consumer demand."
Meanwhile, Owen added: "Dubai will also stand to gain from the Expo 2020 later this year, which businesses hope will drive spending and growth even higher."
