Economics
Dubai Business Activity Barely Grows With Restrictions Reimposed
- PMI drops to 50.6 in Jan vs 51 in Dec, stays above growth mark
- Employment figures rise at quickest pace in 14 months
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Non-oil companies in Dubai increased output for the second month in a row in January but the uptick was marginal in the emirate where authorities have reimposed some restrictive measures imposed to curb the spread of Covid-19.
The non-oil private sector economy in the Middle East’s business hub improved fractionally last month, according to IHS Markit. While its Purchasing Managers’ Index fell to 50.6 in January from 51 last month, driven by a decrease in output and new orders, the gauge still remained above the 50 mark that separates growth from contraction.