SUMMARY
The UAE’s Sila CSI has returned to positive growth in August after a substantial July drop, 72.5 (+1.3) basis points. All major indices had an increase this month, with the most significant being employment, a clear indicator for a confident consumer market overall.
“After a slight pause, growth in all UAE indices signals a positive outlook to post-pandemic life after the somewhat tiresome months of the region s summer.”
Paul Kelly, D/A’s Managing Partner
The UAE’s Sila CSI has returned to positive growth after a substantial drop (-2.6 basis points), with 1.5 point growth for August. This makes August the second-highest month for the series.
The country remains in a high net positive position overall and is indicating further growth in confidence. As we see the results of the new Gov. Nationals for private workforce stimulus roll out, we can expect some initial upside in confidence across all 3 factors for the UAE.
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