FOREX TradingCharts.com

Financial News: Dubai Private Sector Expands For Second Month

Dubai Private Sector Expands For Second Month

09/09/2020 - 05:57:00 (RTTNews)

(RTTNews) - Dubai's non-oil private sector extended the upturn in August as business conditions continued to recover after the Covid-19 related lockdown, survey data from IHS Markit showed Wednesday.

The Purchasing Managers' Index came in at 50.9 in August, but down from 51.7 in July. However, the score remained above the neutral 50, suggesting expansion in the sector.

The marginal improvement was partly due to weaker rises in output and new business. As a result, job cuts quickened from July, while firms lowered selling prices at the fastest rate since October last year.

"Business activity rose solidly, but the expansion was markedly weaker than in July, which will dent hopes of a swift recovery from the COVID-19 pandemic," David Owen, an economist at IHS Markit, said.

Firms have not seen a full-scale uplift in demand to pre-pandemic levels and many commented that market conditions remained strongly depressed, the economist added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Nearly 50% Of UK Firms Plan To Cut Recruitment: CBI (55 min(s), 31 sec(s) ago)
(RTTNews) - Nearly half of the UK firms plan to either reduce or not recruit at all over the comin ...Full Story»

European Economics Preview: UK Retail Sales Data Due (02 hr(s), 01 min(s), 31 sec(s) ago)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story»

Japan Overall Inflation Slows To 0.2% On Year In August (28 min(s), 29 sec(s) ago)
(RTTNews) - Overall nationwide consumer prices in Japan were up 0.2 percent on year in August, the ...Full Story»

Japan Inflation Data On Tap For Friday (18 min(s), 29 sec(s) ago)
(RTTNews) - Japan will on Friday release August numbers for consumer prices, highlighting a very l ...Full Story»

Indonesia Leaves Rates Unchanged Again (09 min(s), 29 sec(s) ago)
(RTTNews) - Indonesia's central bank left its key interest rates unchanged on Thursday it expe ...Full Story»

Bank Of England Raises Negative Rate Expectations (26 min(s), 29 sec(s) ago)
(RTTNews) - The Bank of England retained its interest rate at a record low on Thursday, but policy ...Full Story»

Philly Fed Index Drops For Third Straight Month But Still Indicates Growth (55 min(s), 29 sec(s) ago)
(RTTNews) - Growth in Philadelphia-area manufacturing activity slowed modestly in the month of Sep ...Full Story»

U.S. Housing Starts Pull Back Sharply Amid Plunge In Multi-Family Starts (44 min(s), 29 sec(s) ago)
(RTTNews) - After reporting a substantial increase in new residential construction in the U.S. in ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Nearly 50% Of UK Firms Plan To Cut Recruitment: CBI

09/18/2020 - 01:48 AM (RTTNews)
(RTTNews) - Nearly half of the UK firms plan to either reduce or not recruit at all over the comin ...Full Story>>

European Economics Preview: UK Retail Sales Data Due

09/18/2020 - 00:42 AM (RTTNews)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story>>

Japan Overall Inflation Slows To 0.2% On Year In August

09/17/2020 - 20:12 PM (RTTNews)
(RTTNews) - Overall nationwide consumer prices in Japan were up 0.2 percent on year in August, the ...Full Story>>

Japan Inflation Data On Tap For Friday

09/17/2020 - 18:02 PM (RTTNews)
(RTTNews) - Japan will on Friday release August numbers for consumer prices, highlighting a very l ...Full Story>>

Indonesia Leaves Rates Unchanged Again

09/17/2020 - 11:53 AM (RTTNews)
(RTTNews) - Indonesia's central bank left its key interest rates unchanged on Thursday it expe ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.