The production within Dubai’s non-oil private sector continued to grow robustly in March, despite the ongoing conflicts in the Middle East.
According to the Dubai Purchasing Managers’ Index (PMI) from S&P Global, companies in Dubai expressed optimism about increased production over the next 12 months. This report indicated that production rates and the growth of new business remain robust when measured against historical standards, even in light of the economic impacts of regional conflicts. The Dubai PMI recorded a score of 53.2 in March.
The overall PMI for the UAE also reached 52.9 in March, surpassing the neutral mark of 50.0, which reflects continuous improvement in business conditions. A broad expansion was noted, with many firms reporting flexible sales pipelines and ongoing project activities.
The volume of new business saw an increase in March, despite supply chain disruptions and a decline in global demand. Many companies reported strong customer demand, which included a rise in international orders. Businesses showed confidence in their activity forecasts for March, aided by long-term expansion strategies and government spending on major local projects.