The city is showing signs of lift-off after the lockdown, according to HIS Market’s Purchasing Managers’ Index.
The city of Dubai showed a slight business upturn last month as the city began to re-open after the lockdown that was imposed because of the viral threat of coronavirus.
“Business activity was back in positive territory as firms were given a welcome boost from the relaxing of lockdown measures,” said David Owen, an economist at IHS Markit. “Some sectors were on the path back to normality, according to survey respondents, though others presented a more cautious picture, finding that demand in some areas, notably travel & tourism, was still extremely weak.”
“Firms direly need a boost to cash flow, as many have been left struggling with low revenues and high cost burdens in June,” according to Owen. “Workers have been hard-hit, with employment dropping sharply for the fourth month in a row.”