Latest data from Purchasing Managers Index (PMI) and S&P Global has revealed that recruitment in the retail, construction, and services sectors of Dubai decreased to a 5-month low in February.
The PMI, a measurement of business activity on new orders, expansion plans, and other factors, hit its lowest point in 12 months. Despite this, business owners remain optimistic.
PMI for February was recorded at 54.1, higher than the 50 medians but lower than January’s 54.5. According to reports, companies in Dubai are still confident about the future.
Senior Economist at S&P Global, David Owen, remarked that non-oil companies observed a sluggish increase in employment and inventories last month. He added that job creation remained mild for 5 months.
Since June 2019, output in the construction sector has experienced a significant increase. Compared to January, activity in travel and tourism, wholesale & retail, and other sectors improved.