Macau | Local economy recovered from Typhoon Hato in September

Macau (MNA) – The city scored 5.8 for the month of September in regards to the Economic Prosperity Index, up 0.2 points compared to 5.6 in August, according to the latest information released by the Association of Economic Sciences of Macao (ACEM).

The improvement resulted from the continued recovery from Typhoon Hato, with the majority of hotels, restaurants and retail stores resuming operations during the month of September.

The score in September stood remained stable, stated ACEM in the report.

The score was based on ten indicators, of which the ‘Chinese consumer confidence index’ had a full score of 10, the highest score in recent years. The high score indicates a fast improvement of Chinese consumers’ prospects for the economy, income as well as consumer psychology.

For ‘visitor arrivals’ in September, the city scored 5, which indicates a growth of 2.4 per cent year-on-year. The score reveals that the number of visitor arrivals is undergoing a steady increase.

The ‘import of goods’ indicator was rated 6 during the month, posting an increase of 16.5 per cent year-on-year and 2 points month-on-month.

In contrast to other indicators, ‘employment’ saw a year-on-year drop of 3.3 per cent to 0.

The leading indicators, namely the ‘Chinese consumer confidence index’, ‘gaming operators monthly closing average share price’ and ‘money supply M2’, posted a score of 7.7.

ACEM wrote in the report that the score of the leading indicators implied a positive outlook for the city’s economy.

ACEM suggested the Macau government be alert to the city’s economy because of the poor score in ‘employment’, which could make it hard for the city to remain prosperous despite the good economy in mainland China.

Related

Latest