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

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Dubai businesses are seeing less of supply chain issues hobbling them, and that's spilling over into higher confidence on what the future might hold.
Dubai businesses are seeing less of supply chain issues hobbling them, and that's spilling over into higher confidence on what the future might hold.
Shutterstock/Vijith Pulikkal

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.

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