Dubai's non-oil economy surges to 33-month high on easing Covid restrictions

Business activity in Dubai's non-oil private sector economy surged in March to the strongest level in 33 months, as new orders rose amid easing pandemic restrictions and strong tourism demand during Expo 2020.

The headline S&P Global Dubai Purchasing Managers' Index climbed to 55.5 in March from 54.1 in February. A reading above the neutral 50 level indicates economic  expansion, while one below points to a contraction. Dubai's PMI is at the strongest level since June 2019. The health of the emirate's non-oil private sector improved at a faster pace than the average of more than 12 years of survey data, S&P Global said.

“The Dubai PMI moved clear of its previous post-lockdown high in March,” S&P Global economist David Owen said. “The result rounded off another strong quarter in which relaxed pandemic measures and the Expo 2020 have brought increased economic activity and tourism demand.”