The non-oil sector in Dubai continued its strong growth in August, with the Purchasing Managers’ Index (PMI) reaching 53.6, a slight increase from July’s figure of 53.5. This growth is supported by the highest production expansion rate seen in the past seven months.
According to the revised PMI data from S&P Global, Dubai’s firms experienced their fastest production growth in seven months, driven by a surge in customer sales and project activity. Overall demand also saw an increase, while sales prices rose for the ninth consecutive month.
The UAE’s PMI rose from 52.9 in July to 53.3 in August, indicating an improvement in economic conditions, thanks to a significant increase in production levels during the middle of the third quarter. This marks the fastest activity growth in six months and slightly exceeds the long-term average of the survey.
The report highlighted that rising sales and ongoing project work, along with growth in local markets, have reinforced this recovery.
Additionally, the index showed that non-oil businesses increased their sales prices at a faster rate, reflecting improved production forecasts for August. Companies expressed the highest levels of confidence since last October, with many hopeful that stable local economic conditions and strong customer relationships will contribute to growth in the coming year.