The non-oil private sector in Dubai demonstrated robust performance in September, with a significant rise in corporate sales marking the end of the third quarter.
The Purchasing Managers’ Index (PMI) in Dubai rose to 54.2 in September, up from 53.6 in August, reflecting growth aligned with the overall performance indicated by the UAE PMI.
The non-oil private sector of the UAE recorded its strongest expansion in seven months, according to the S&P Global PMI, supported by a sharp increase in new business.
Dubai’s non-oil companies experienced a substantial rise in new business levels in September compared to August, with sales growth accelerating to the highest rate in eight months.
This uptick in new business volume significantly drove the expansion of production in Dubai’s firms, and employment rates also increased. Businesses exhibited much stronger optimism regarding future activity compared to mid-year observations.
The S&P Global PMI for the UAE surged to 54.2 in September from 53.3 in August, indicating a solid improvement in working conditions and new orders rising at the fastest pace since February.
The index reported the best performance in the non-oil private sector in seven months in September, propelled by a stronger increase in new business requests. This led to another strong expansion in business activity and a quicker increase in staffing, despite companies remaining cautious about their inventory levels. Following a modest rise in August, the rate of product price inflation fell in September.
Concerns over competition for new business limited companies’ ability to pass higher costs on to customers. The UAE PMI from S&P Global increased for the second consecutive month in September.
It rose from 53.3 to 54.2, indicating strong and accelerating improvement in non-oil business conditions. The PMI reached a seven-month high, driven by demand growth in the non-oil sector in September, with the expansion in new orders accelerating to the highest level since February. Sales were boosted by domestic demand, while new orders from foreign clients also increased.