Dubai's Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 54.5 in September, up from 54.1 in August — the strongest reading for the emirate's non-oil private sector so far this year.
The report attributes the gain primarily to a sharp and accelerating rise in output, marking the fastest pace of production growth recorded in 2026 to date. New orders also rose markedly, with new business from abroad expanding at its quickest rate in two years.
Alongside these positive signals, the report flags one note of caution: output price inflation accelerated to its fastest pace since January 2014, as companies passed higher input costs on to customers. Employment also rose in September, even as the backlog of outstanding work continued to build at a sharp pace.
The figures suggest Dubai's non-oil economy has kept its strong growth trajectory intact despite regional tensions that have weighed on the wider aviation and tourism sectors. Analysts point to the resilience as evidence of Dubai's economic diversification and its continued ability to draw foreign investment even during a period of regional instability.