Banking on a return to prosperity
Dubai’s private sector is showing signs of an improvement if Emirates NBD figures are to be believed. The bank’s Dubai Economy Tracker has shown that October data signalled a further improvement in business conditions across Dubai’s private sector economy, underpinned by strong rises in output and incoming new work. The seasonally-adjusted Emirates NBD Dubai Economy Tracker Index registered above the crucial 50.0 no-change value for the eighth month running. However, the latest reading was down from September and pointed to the slowest growth momentum since April. The survey covers the Dubai non-oil private sector economy.