Dubai’s non-oil private sector grew at a softer pace in January, survey data from IHS Markit showed on Tuesday.

The Purchasing Managers’ Index fell to 50.6 in January from 51.0 in December. Any score above 50 indicates expansion in the sector.

Business activity rose for the second straight month in January, albeit at a softer pace. Employment grew for the first time since February last year.

Business confidence for the 12 months outlook improved due to the rapid vaccine roll-out in the UAE.

Sales grew at the slowest pace seen in the current eight-month sequence of expansion.

On the price front, input costs declined for the first time in six months and at the quickest pace since April last year. Average selling prices declined slightly.

Suppliers’ delivery time shortened for the second straight month in January.

“Uncertainty surrounding the near-term economic outlook and the prospect of tighter pandemic measures meant that output expectations across Dubai’s non-oil sector remained subdued in January, despite picking up from the end of 2020,” IHS Markit economist David Owen said.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.