Dubai Private Sector Growth Improves In April

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Dubai’s non-oil private sector grew at a faster pace in April, data published by IHS Markit showed on Monday.

The headline IHS Markit Dubai Purchasing Managers’ Index rose to 53.5 in April from 51.0 in March. A score above 50 indicates expansion in the sector.

The reading was also the highest recorded since November 2019, suggesting the economy is moving closer to its pre-COVID growth trajectory.

New orders rose at the quickest pace in a year-and-a-half period. The upturn was helped by strengthening business optimism about the coming year as the impact of the COVID-19 pandemic is expected to recede.

As a result, non-oil private sector companies raised output for the fifth consecutive month in April.

Input prices increased notably but the rate of inflation softened markedly from March’s recent high. Supply shortages and rising demand encouraged firms to raise their output charges in April.

The material has been provided by InstaForex Company – www.instaforex.com

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