Business confidence in Dubai hits 3-year high on higher orders, more jobs: PMI report for May
Higher orders and less of supply chain niggles make for higher business confidence
Dubai: Businesses in Dubai are seeing more easing of pressures helped by higher orders and output during May – and this is also being reflected in the job numbers. This is according to the latest PMI (Purchasing Managers Index) data from S&P Global, which added that supply chain pressures are also easing for the private sector in the emirate.
This has convinced business owners to forecast a solid 12-month run, with confidence at its highest in more than three years.
“With firms seeking to rapidly expand their output, job numbers also rose to a greater extent, with growth quickening to the fastest rate since January 2018,” said David Owen, Senior Economist at S&P Global Market Intelligence.
The signs of a fairly upbeat job market are showing up across sectors, with market talk suggesting construction will likely see additional hiring from the second-half of the year. Retail continues to expand, and with each new physical or online operation, additional staffing becomes a need.