E-A-R to the Ground
UAE: domestic activity gathers pace in March
UAE March PMI up on construction, new business
Domestic demand was likely propped by decline in daily new COVID cases & a successful vaccination drive. Export orders remained subdued & rising input costs led to cautious hiring activity.
Labor markets to likely improve only when firms see pricing power returning.
Dubai property sales march northwards
Relatively low real estate prices & cheaper mortgage rates has supported this asset class. Global inflows in Dubai real estate is also buoyed by supportive policies like Digital Nomad visa among others.
Dubai RevPAR declines in Feb
Hotel occupancy and consequently RevPAR came off on fresh lockdown measures in Europe. Luxury properties advanced on local & foreign demand while business hotels remained a drag on overall revenues.
EAR to the Ground: March 2021
Economic Activity in the UAE remained tepid in February as suggested by the Purchasing Managers' Index (PMI). Headline PMI weakened to 50.6 from 51.2 in January largely due to a decline in pricing power as firms tried to raise sales volume by offering ...