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Dubai PMI improves in June – IHS Markit

Dubai PMI improves in June – IHS Markit
Confidence about business outlook continued to improve

Dubai – Mubasher: The seasonally adjusted Dubai Purchasing Managers' Index (PMI) rose from 46 in May to a neutral reading of 50 mark in June.

The change signals no change in overall business conditions at the end of the second quarter in the emirate, according to a report by IHS Markit.

Although the index did not show growth or business expansion, its June reading has ended a three-month downturn in the Dubai non-oil economy, which was the worst seen on record due to the coronavirus (COVID-19) pandemic.

IHS Markit noted that the June PMI data businesses in Dubai saw a tentative rise in new work as activity levels strengthened, although payroll numbers were again reduced sharply.

In addition, confidence about the business outlook continued to improve, reaching its highest level since March, the report noted.