Business activity within the non-oil private sector economy in Dubai reached a five-month high last month.

Output rose on more robust increases in jobs and inventories, with growth rates hitting multi-year records.

Dubai's seasonally adjusted S&P Global purchasing managers' index rose to 55.5 in March from February's 54.1, exceeding the 50-mark dividing growth from contraction.

"Companies reported greater efforts to build supply-side strength in light of a further rapid expansion in activity levels," stated senior economist at S&P Global Market Intelligence, David Owen.

"The subsequent increases in staffing levels and inventories of materials and components were the sharpest seen in around five years, allowing firms to increase their output to the greatest extent for six months," he added.

In March, businesses continued to register a considerable improvement in client demand, The National reports. In addition, companies increased hiring as new business inflows rose, with job creation accelerating at its fastest pace since the beginning of 2018, the survey showed.

Between January and September 2022, Dubai's economy grew 4.6% on an annual basis, with wholesale and retail trade making up 24.1% of GDP, according to Dubai's statistics centre.

Moreover, a forecast by Emirates NBD shows Dubai's full-year growth for 2022 stands at 5%, with GDP expected to grow by 3.5% in Dubai this year.

In addition, the tourism sector within the emirate made a strong rebound from the pandemic-fuelled slowdown.

Dubai registered 12.82 million overnight international visitors between January and November 2022, over 85% of pre-pandemic levels during the same 11 months in 2019, as per statistics from Dubai's Department of Economy and Tourism.

In addition, Dubai's 11-month performance is twice that of the 6.02 million who visited the city within the same timeframe in 2021, according to government data.