Tuesday, February 9, 2021 – 2:55 PM
DUBAI, February 9, WAM – The Dubai PMI continued above the growth level at 50.6% in January 2021 for the second month in a row, according to the IHS Markit PMI.
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 “Corona” virus.
Dubai employment figures also showed a slight increase for the first time in nearly a year, and the fastest pace in 14 months as companies expressed optimism about future business.
David Owen, an economic analyst at IHS Markit, said: “Non-oil companies in Dubai grew for the second month in a row in January, and confidence increased in 2021 also due to the rapid vaccine record in the UAE.
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 the month of January, and the main engine for job creation.
Some companies confirmed an increase in customer demand, and optimism was at its highest since last September.
WAM / Nasser Aref / Ahmed Al-Boutly