Business conditions in Dubai improved for the third straight month in September even as a renewed spike in coronavirus cases poses a threat to the city’s recovery.
Non-oil private sector activity in the Middle East’s business hub fared better amid a rise in activity and new business, according to IHS Markit. Its Purchasing Managers’ Index rose to 51.5 last month from 50.9 in August, remaining above the 50 mark that separates contraction from growth.
- Employment declined at the slowest in seven months, as business expectations improved slightly
- The pace of new business was faster than in August and demand growth was at a 10-month high
- A sharp increase in new orders seen in the wholesale and retail sector; construction work experienced “a modest rise”
- The travel and tourism sector continued to decline, but at the slowest pace since February
- Expectations of further growth were