Emirates NBD Research
 

Find anything about our articles and more.
Enter a query in the search input above, and results will be displayed as you type.

Try typing "Dubai Economics", "Dubai GDP", "GCC Macro"

Emirates NBD
Search
Subscribe
   
  • Home
  • Economics

    Emirates NBD Research provides detailed coverage of 16 GCC and MENA economies, analysing them from a top down macro and strategic perspective as well as by a bottom up sector by sector approach.

    • SUBTOPICS
    • GCC Macro
    • MENA Macro
    • Global Macro
    • Sector Economics
    • Monthly Insights

     

    Latest Article Lebanon continues to face multiple challenges
    Latest Article UAE: A mixed bag of data in January
    Latest Article Moroccan growth will outperform MENA oil importer peers in 2021

     

  • Markets

    Emirates NBD Research publishes reports on global forex, rates and commodities, as well as regional fixed income and equity markets.

    • SUBTOPICS
    • Foreign Exchange
    • Fixed Income
    • Commodities
    • Equities
    • Monthly Insights

     

    Latest Article IEA lowers demand forecasts
    Latest Article Monthly Insights: January 2021
    Latest Article Gold prices stumble to start 2021

     

  • Daily
  • PMIs

    Emirates NBD sponsors Purchasing Managers’ Indices for the UAE, Saudi Arabia, Egypt and Dubai. The indices are compiled by IHS Markit, the leading global provider of financial market data.

    • SUBTOPICS
    • UAE PMI
    • Saudi Arabia PMI
    • Egypt PMI
    • Dubai PMI
    • Methodology

     

    Latest Article Dubai PMI moves back into expansion territory in December
    Latest Article Regional PMIs- Saudi PMI rises to year high in December
    Latest Article Regional PMI round-up: A mixed bag in November

     

  • About Us
  • EmiratesNBD.com
  • Subscribe
ECONOMICS > PMIS

Dubai Economy Tracker: Steeper price discounting drives activity and new order growth in April

Khatija Haque - Head of Research & Chief Economist
Published Date: 09 May 2019

Facebook
Linkedin
Twitter
Email
Print

 

The headline Dubai Economy Tracker (DET) Index rose to 57.9 in April from 57.6 in March.  While this is the highest reading since February 2015, it reflects sharp growth in new work and output – both reflecting the volume of activity in April.  Just as important, but not included in the headline index, is the extent of price discounting which was the fastest since November 2018.  Selling prices declined even as input costs were slightly higher, squeezing profit margins.  On average, selling prices have declined every month for the last year.   

Employment was broadly unchanged in April, despite the 4-year high in the headline DET index.  The average employment index for the year to April is just below the neutral 50.0 level, signalling a marginal decline in jobs in Dubai’s private sector this year, which reflects the challenging environment businesses are facing and their desire to keep costs down, despite rising volumes of output.    

Firms in Dubai were the most optimistic they have ever been about their future output, with nearly 85% of firms surveyed expecting their output to be higher next April, and none anticipating a decline in output.  This is not surprising given that 2020 is the Expo year, with both domestic demand and tourism expected to be firmer.  The future output index is likely to remain elevated through the course of this year. 

DET index rises to four-year high in April

Source: IHS Markit, Emirates NBD Research

April sector survey highlights:

  • Wholesale & retail trade sector index rises in April
  • Travel & tourism sector growth moderates
  • Construction sector new work recovers in April

Click here to download the full report

 

Written By:
Khatija Haque, Head of Research & Chief Economist

RELATED ARTICLES

Dubai PMI moves back into expansion territory in December
11.01.2021

Regional PMI round-up: A mixed bag in November
08.12.2020

Dubai PMI slips to 49.9 in October
09.11.2020

PMIs: UAE reading disappoints
03.11.2020

Regional PMIs recover in September
06.10.2020

See all

LATEST ARTICLES

Monthly Insights: January 2021
17.01.2021

Regional growth to be driven by improving global backdrop
13.01.2021

Lebanon continues to face multiple challenges
25.01.2021

See all
 

 Subscribe to our newsletter


Never miss out what is going on in UAE Economics

KEEP READING MORE

Regional growth to be driven by improving global backdrop

We expect GCC growth to average 2.3 percent in 2021 following an estimated 5 percent contraction in 2020.

ECONOMICS, GCC MACRO - 13.01.2021

Monthly Insights: January 2021

A round-up of our key research insights and forecasts this month.

ECONOMICS, MARKETS - 17.01.2021

Energy markets focus on US presidential election

Oil industry braces for a Biden administration.

MARKETS, COMMODITIES - 25.10.2020

 

Markets pricing in Democratic victory

Anticipation of a Democratic win in the US election is sending yields higher.

MARKETS, FX - 27.10.2020

MENA Quarterly Q4 2020

Our quarterly report on MENA economies

ECONOMICS, MENA MACRO - 13.10.2020

OPEC and allies reach agreement for 2021

The oil market should be able to absorb modest production increases

MARKETS, COMMODITIES - 06.12.2020

Green bond market has room to expand in MENA

Renewables projects across the region could attract new pool of investors.

MARKETS, FIXED INCOME - 21.10.2020

  • Economics
  • Markets
  • PMIs
  • About Us
  • Subscribe to our publications
  • Economics
  • GCC Macro
  • MENA Macro
  • Global Macro
  • Sector Economics
  • Markets
  • Foreign Exchange
  • Fixed Income
  • Commodities
  • Equities
  • PMIs
  • UAE PMI
  • Saudi Arabia PMI
  • Egypt PMI
  • Dubai Economy Tracker
  • Methodology
  • About Us
  • Subscribe to our publications

 


Terms and Conditions
Copyright © 2021 Emirates NBD Bank PJSC. All Rights Reserved