Optimistic Outlook Dubai’s business sector has kicked off the new year with a positive note, indicating expectations of accelerated hiring and job creation over the next 12 months.
December Surge: Non-Oil Private Sector’s Robust Performance
In December, Dubai’s non-oil private sector showcased its strongest performance in 16 months, with companies reporting significant improvements in sales and activity, according to the latest purchasing managers’ index (PMI) survey.
Workforce Expansion: Confidence and Sales Drive Job Creation: Optimistic Outlook
With growing confidence and sales, non-oil companies in Dubai expanded their workforce in December, emphasizing efforts to expand operations and meet rising output requirements. Job creation reached a four-month high during this period.
Cost Pressures Eased: Boost to New Order Growth
Reduced cost pressures enabled firms to provide greater discounts to customers, contributing to the acceleration of new order growth. The second-quickest growth since mid-2019 was recorded, signaling a positive trajectory for the economy.
Optimistic Business Expectations: Post-Pandemic Highs
The data indicates a recovery in business expectations for the year ahead, with optimism levels reaching some of the highest recorded since before the Covid-19 pandemic.
Strategic Economic Plan: A Long-Term Positive Outlook
The unveiling of an ambitious 10-year $8.7 trillion economic plan has positioned Dubai for long-term economic success, aiming to boost trade, foreign investment, and global hub status.
PMI Surge: Highest in Over a Year: Optimistic Outlook
The S&P Global Dubai PMI for December rose to 57.7, the highest since August 2022 and the second-highest in four-and-a-half years. This positive reading underscores increased confidence, faster hiring, and robust economic growth expectations for Dubai in the coming months.
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