Dubai – Mubasher: The Dubai Purchasing Managers’ Index data for December 2022 revealed another sharp rise in production, but at the lowest rate since February 2022..
Firms continued to signal optimism regarding future production and viewed with some positivity the renewed decline in total cost pressures..
The main PMI recorded 55.2 points, and the index remained strongly above the neutral level (50 points) in December, indicating a strong improvement in operating conditions at the level of the non-oil-producing sector. The index improved slightly from 54.9 points recorded in November, but despite That marked the second lowest level since April.
The data indicated a strong expansion in production levels at the end of the year, as companies highlighted higher new order volumes and improved customer demand.
Businesses were less optimistic regarding future levels of activity in December, with optimism dropping to a four-month low.
The decline in production expectations led to a slight increase in employment numbers, as employment grew only slightly and to the lowest extent since September on a sectoral level and job growth was mainly driven by the construction and wholesale and retail sectors.
Firms increased their inventory of purchases at a strong and accelerated rate in December, amid reports of increased input requirements for project completion..
There was a slight increase in supplier delivery times for the first time in four months, and the increase in warehousing was helped by a renewed decrease in total cost burdens during the month of December..
Input prices fell for the third time in five months, reflecting less severe inflationary pressures than recorded earlier in the year.
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