UAE private sector optimistic about 2020

iStock

Non-oil private sector businesses in the UAE expect 2020 to be a more upbeat year, amid forecasts of greater tourism and economic investments.

That’s according to the latest Purchasing Managers' Index (PMI) data from the consulting firm, IHS Markit.

The report shows a slowdown in output growth during December with job numbers rising only marginally from the month before.

However, firms are confident of a strong revival this year with the Expo 2020 Dubai being a key source of optimism.

The seasonally adjusted PMI, which covers manufacturing and services, slowed to 50.2 last month from 50.3 in November.

Readings above 50 indicate expansion while readings below that point to contraction.

More from Business

Coming Up on Dubai Eye

  • The Agenda with Tom Urquhart

    10:00am - 1:00pm

    Your chance to have your say and debate the issues you love or loathe. It’s the chance to set The Agenda on the big topics of the day.

  • The Music Mix

    1:00pm - 2:00pm

    Enjoy your favourite music back to back commercial free, tune in to the Music Mix everyday from 1 until 2 for the music you love and the news updates you need

On Dubai Eye

Business Breakfast