UAE - Mubasher: The headline S&P Global Dubai Purchasing Managers' Index (PMI) recorded 55.5 points in March, up from 54.1 in February, marking the reading's highest level since June 2019.
This performance has reflected a boost in growth across Dubai's non-oil private sector economy amid a marked rise in output with higher new business intakes, according to a press release on Monday.
The emirate also saw a surge in supplier performance which enabled companies to expand their inventories for the first time in four months.
Confidence in future activity jumped to the highest level since December.
In the meantime, input costs increased for the fourteenth month in a row due to a sharp rise in energy and raw material prices amid the war in Ukraine; hence, the rate of cost inflation was the fastest seen in the year-to-date.
The Economist at S&P Global, David Owen, said: "Output growth in both the travel & tourism and construction sectors also quickened to the highest since June 2019, with the latter driven by a strong drive among contractors to complete outstanding projects. Wholesale & retail activity likewise rose to a greater extent than in February."
Meanwhile, Owen added: "The global surge in commodity prices due to the war in Ukraine had an impact on Dubai businesses during March, with costs rising at the quickest rate in three months."
