Dubai PMI is above growth for the second month in a row

IHS Market: Employment numbers are up ... optimistic about business

The wholesale and retail sector was the best performing in January 2021. Archives

In January 2021, the PMI in Dubai remained above the growth level of 50.6%, for the second month in a row, according to the PMI issued by the IHS Markit Group.

The index shows that the non-oil business sector in Dubai achieved a growth in commercial activity for the second month in a row during last January, despite preventive measures to limit the spread of the new Corona virus.

Dubai employment numbers also showed a slight increase, for the first time in nearly a year, and at the fastest pace in 14 months, as companies expressed optimism about future business.

"Non-oil companies in Dubai grew for the second month in a row in January 2021, and confidence in 2021 also increased due to the rapid vaccination record in the UAE," said David Owen, economic analyst at IHS Markit.

The group’s report confirms that almost all sectors in Dubai recorded remarkable growth, noting that the wholesale and retail sector was the best in terms of performance during last January, and the main driver of job creation.

Companies confirmed an increase in customer demands, and optimism was at its highest since September 2020.

The index mentioned that the non-oil private sector in Dubai returned last December to achieving growth, after recording 51%, compared to 49% in November.

Companies confirmed the increase in customer demands ... and optimism at its highest levels since September 2020.

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