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Business activity in Dubai’s non-oil private sector expanded in July albeit at a slower pace, according to the Dubai Economy Tracker Index (DET) developed by London-based global information provider, IHS Markit. The seasonally adjusted IHS Markit Dubai Economy Tracker Index fell from 58.4 in June to 55.2 in July. Readings above 50 signal growth in economic activity.
The index is based on data collected through a monthly survey of business conditions in the Dubai’s non-oil private sector. The survey covers the non-oil private sector economy, with additional sector data for travel and tourism, retail and wholesale, and construction.
“Business activity in Dubai’s non-oil private sector economy continued to expand in July. That said, the rate of growth slowed since June, to the weakest since February,” the DET report said.
Data showed that activity expanded despite employment numbers remaining largely unchanged compared to June. Employment during the latest month continued the trend of subdued labour market conditions witnessed during the year so far. Job creation in the retail and wholesale sector was offset by job cuts in the travel and tourism, and construction sectors.
Expectations for business activity over the next 12 months were high at the start of H2 2019, with the respective index registering the third-highest numbers on record.
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Sarah-Jane Carter
BA (Hons) DipM
Head of Marketing
Sarah-Jane joined Cavendish Maxwell in January 2020 as Head of Marketing and is responsible for the development of the marketing strategy and execution across the Middle East region. An energetic and results driven marketer, Sarah-Jane possesses a wealth of multi-channel marketing experience, within both B2B and B2C environments which she has gained over a 25 year career. Prior to joining Cavendish Maxwell, Sarah-Jane held senior marketing positions for major developers in Dubai including Emaar, Dubai Properties and Dubai Sports City. She also worked for IWG as the Regional Marketing Director responsible for the MEA and APAC regions. Before relocating to the UAE in 2005, Sarah-Jane held various management roles in public and private sector companies in the UK including ten years at Royal Mail and seven years at the Bank of America.
Sarah-Jane is a member of the Chartered Institute of Marketing and has a BA(Hons) Degree in Business and Marketing
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