Dubai’s non-oil producing firms posted the weakest increase in activity levels in nearly three years.
Continue S&P Global Dubai Purchasing Managers’ Index The growth curve in the non-oil private sector economy slowed slightly, while supplier performance improved sharply, employment levels expanded and confidence rose.
The headline index fell from 54.7 points in May to 54.3 points in June, its lowest level since February 2023.
Although new order growth remained strong in June, and even accelerated, non-oil companies reported the weakest increase in activity levels in nearly three years. Some companies said that intense market competition had limited their ability to take advantage of strong demand conditions.
Meanwhile, input price inflation rose at the fastest pace in nearly two years in June, prompting companies to raise output prices for the second straight month.
