Dubai’s private sector, including construction, signalled a positive start to the third quarter of 2016, with overall business conditions improving at the fastest pace since March 2015, according to the latest Emirates NBD Dubai Economy Tracker Index.

The headline seasonally adjusted index rose from 54.6 in June to 55.9 in July. The construction sector with an index of 53.5 was one of three top performers.

The index has signalled a recovery in operating conditions in each month since the series’ record low seen in February. Moreover, the latest reading is now back above the long-run survey average (55.1). In each case, the latest readings were above the crucial 50.0 no-change value.