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Dubai economy hits highest level in two years

11 Feb 2017

(MENAFN) According to the Emirates NBD Dubai Economy Tracker Index (DET), Dubai”s non-oil private sector economic activity signaled strong growth in January.

The highest reading since February 2015, January data showed the DET rose to 57.1 from 55.9 in December, business activity expanded at a faster pace across the whole of Dubai while new work growth was the fastest since March 2015.

Khatija Haque, Head of Mena Research at Emirates NBD: “As we have noted throughout 2016, the strong rise in activity and new orders volumes were driven partly by competitive pricing and promotional activity, and this appeared to be the case again in January.”

Additionally, employment increased in January but the rise was modest, with the employment index at just 51.3.

MENAFN1102201700450000ID1095241773

MENAFN1102201700450000ID1095241773

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