Business in Dubai has demonstrated the fastest growth in the last 10 months

In June 2023, companies in Dubai not related to the oil sector demonstrated the fastest development in the last ten months. The main Purchasing Managers' Index (PMI) in Dubai, according to S&P Global, reached 56.9, which is 1.6 points higher compared to the May figures of 55.3.

The development of the non-oil sector is indicated by the increase in production volume, improved product supply, the emergence of new organizations, and job opportunities. Although production resources experienced a slight increase in cost, companies continued to offer discounts and lower prices for goods and services.

As consumer demand started to grow in non-oil sectors, more new businesses began to emerge in Dubai, and production volumes increased. This resulted in the creation of new job opportunities. For instance, the highest growth rates were observed in sectors such as construction, wholesale and retail trade, travel, and tourism.

As of June 2023, there was a significant improvement in supply chains. This reduced order fulfillment time, accelerated payment processing, and increased production capacity.

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