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Dubai Business Conditions Worsen as Pandemic Weighs on Demand

Gloom Deepens For Dubai Property Slump
Photographer: Christopher Pike/Bloomberg

Business activity in Dubai dropped for a second month in November as the coronavirus pandemic continued to weigh on demand.

The non-oil private sector economy in the Middle East’s business hub deteriorated last month to the lowest since May, according to IHS Markit. Its Purchasing Managers’ Index dipped to 49 from 49.9 in October, falling further below the 50 mark that separates growth from contraction.