Non-oil private sector records strong growth in September — Emirates NBD UAE PMI

Updated 09 October 2017
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Non-oil private sector records strong growth in September — Emirates NBD UAE PMI

Despite softening slightly in September, growth in the UAE’s non-oil private sector remained sharp and marked the strongest quarter recorded for two years, according to a new survey. The latest improvement in business conditions was driven by above-average expansions in both output and new orders. The UAE PMI survey reported that new business from abroad slipped back to contraction, indicating that the recovery was driven by domestic demand. On the price front, output charges fell, whilst input price inflation softened to a four-month low.
The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.
Khatija Haque, head of MENA research at Emirates NBD, said: “Although the headline purchasing managers index eased slightly in September, the average reading for Q3 was the highest in two years, underpinned by strong growth in output and new work. The survey suggests that economic growth accelerated last quarter, and that domestic demand remains solid, despite relatively modest jobs growth.”
The headline seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy — eased from the 30-month high of 57.3 recorded in the preceding survey to 55.1 in September. Growth remained strong overall and steeper than the survey’s historical average. The average in Q3 2017 was 56.1, the strongest since Q3 2015 (56.3).
Firms in the non-oil private sector reported a sharp increase in output in September. The rate of growth was steep overall and above the series’ long-run average. The pace of expansion slowed from the four-month high registered in August.
Behind the latest rise in output requirements was strong underlying demand for goods and services produced in the UAE’s non-oil private sector, according to anecdotal evidence. A sharp expansion in incoming new work was signalled in September. However, survey data suggested that greater inflows of new work came from the domestic market instead of foreign sources, as indicated by the contraction in new export orders.
Employment levels continued to rise for the 17th month running in September. Companies in the UAE’s non-oil private sector reduced their output charges, according to the most recent survey data.


A summer to remember with Jumeirah

Updated 17 July 2018
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A summer to remember with Jumeirah

Jumeirah Hotels has created a list of 90 different ways one can have fun over the summer months with friends and family at its hotels. From the beach, to the city, to the creek — or even a drive or plane journey away, there is something for everybody.
With six different categories to dip into, guests can enjoy a whole host of day or nighttime activities, as well as staycations or long-term stays within the family, dining, shopping, exploring, recharge and indulge categories — all available for guests to scroll through on www.jumeirah.com/90ways

Staycations at Jumeirah city hotels
l Jumeirah Emirates Towers and Jumeirah Creekside Hotel are offering a UAE Residents’ rate from 315 dirham ($85). The perfect destinations to explore the Museum of the Future site, Downtown Dubai, Burj Khalifa, Bur Dubai and Deira.
l Zabeel House Al-Seef and Zabeel House MINI hotels are perfect for those looking for heritage and culture. Venture into the new area surrounding the Creek and the friendly team will lend you a bike to explore the eclectic neighborhood.

Food
l Foodies can tackle the huge variety of different meat cuts with a masterclass hosted by the Master Butcher at The Rib Room, Jumeirah Emirates Towers complete with a three course lunch for just 325 dirham per person.
l Experience dining re-imagined with a five-course menu to be enjoyed from the heights of Jumeirah Emirates Towers’ famed glass elevators with panoramic views.
l Learn to cook the perfect Spanish paella at Al-Hambra, Jumeirah Al-Qasr for 180 dirham per person.
l Kids eat for free at any of the Madinat Jumeirah all day-dining outlets of Hanaaya, Arboretum or The Palmery.

Day and nighttime fun

l Surprise a loved one by creating a personalized fragrance for 40 dirham at Souk Madinat Jumeirah, or host a party at Sinbad Kids Club at Jumeirah Zabeel Saray for 100 dirham per child.
l While the little ones enjoy that, the adults can enjoy beach and pool access, and the choice of either lunch or dinner at Lalezar followed by the legendary Turkish Hammam in Jumeirah Zabeel Saray.
l Burj Al-Arab Jumeirah invites guests to breeze through a hot summer day from a cooled pool cabana at The Terrace, sipping on unlimited signature mocktails, followed by a refreshing cold seafood platter from Scape Restaurant and Lounge. Or enjoy a romantic Moonlight Swim complete with your own pool adorned with rose petals and massage from 7,321 dirham per couple.