Economics
Dubai Recovery Intact But Momentum Slows and Job Cuts Get Worse
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Dubai businesses sustained a recovery from the global pandemic even as they cut jobs at a faster rate and growth in demand slowed.
A measure of non-oil private sector activity in the Middle East’s commercial hub dropped last month for the first time since April but remained above the 50 mark that separates growth from contraction, according to IHS Markit’s Purchasing Managers’ Index. Workforce numbers declined for a sixth month, according to a report on Wednesday.