Home prices up
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The average price per square metre soared to MOP53,254 last month |
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New historical unemployment low
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Jobless rate drops to 2.1 percent |
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May 2011 Economic Trends
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Labour market
The relationship between demographics and the labour market is often not given the attention it deserves. Let us look into it in more detail.
Graph 1 displays the development of the population, the labour force and the employed population, in absolute figures.
While they appear to run in parallel, these series hide significant relative changes. Over [...] |
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Electricity consumption down
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The consumption of electricity decreased by 12.1 percent over the previous quarter to 736 million kWh in the first quarter of 2011. |
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Construction wages go down
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The average daily wage of construction workers was MOP608 (US$76) in the first quarter of 2011, down by 1.8 percent quarter-to-quarter, according to information from the Statistics and Census Service. |
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March 2011 Economic Trends
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An end to the building boom
The construction sector has been one of the main drivers of Macau’s growth over the past few years. There are indications however that the steam has gone out of the sector and that the boom is over.
That assumption is demonstrated in the most striking manner by the figures for concrete [...] |
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Less professionals applying for residency
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Last year, the Macau Trade and Investment Promotion Institute (IPIM) received a total of 542 applications for temporary residency for managerial personnel, technical and professional qualification holders, a decrease of 211 compared with 2009. |
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Electricity consumption goes up
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For the whole year of 2010, total consumption of electricity (3.655 billion kWh) went up by 5.5 percent year-on-year. |
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Population increases
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Macau’s population was estimated at 552,300, at the end of last year, a growth of 1.9 percent, according to official estimates. |
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February 2011 Economic trends
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National income
The Statistics and Census Bureau has just published a new series of national accounts. For the first time, we have estimates for Gross National Income or GNI. A series from 1982 until 2009 has been published.
As some readers may have noticed, Macau’s GDP is now calculated using a new procedure, the chained prices method, [...] |
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January 2011 Economic Trends
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Public housing then…
Housing was one of the most topical subjects on the public agenda last year. The government has promised to build an additional 19,000 units of public housing before next year and has even seemed to hint that more homes would be built, allowing everyone to own an apartment.
Putting aside the political and ethical [...] |
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December 2010 Economic Trends
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Gambling revenue and visitors
Here, the relationship between gambling revenues and the number of visitors is graphed. It is a somewhat surprising relationship. Intuitively, there must be some relationship between those two variables and, random variations or omitted variables aside, it could be assumed it would be a direct one.
That is not apparent when we look [...] |
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November 2010 Economic Trends
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Prices
Table 1 shows the consumer price index or CPI was mostly flat last year. In fact, there was a slight deflation of prices at the start of the year.
This year, prices have increased quickly. This recent change has given rise to some concerns about a return of high levels of inflation.
Let us note that, in [...] |
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Construction wages in Macau go up
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The average daily wage of construction workers in Macau was MOP544 (US$68) in the third quarter of 2010, up by 7.3 percent quarter-to-quarter, according to official data. |
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October 2010 Economic Trends
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Employment and earnings
The period between 2004 and last year represents a remarkable period for Macau’s economy and the dynamics of its labour force. In just five years, the total number of employed workers rose by about 45 percent or about 100,000 workers in absolute terms.
These figures hide the diversity between each of the economy’s sectors. [...] |
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More MICE in Macau
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The number of MICE (Meetings, Incentives, Conventions & Exhibitions) events held in Macau increased by 18 percent year-on-year to 412 in the second quarter of 2010, official data shows. |
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August 2010 Economic Trend
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Introduction
Since 2004, Macau’s economy and population have grown quickly. An often-ignored dimension of that growth is the geographical one. That is, the city has also grown physically. The possible impacts that growth has had on the environment have received little attention, nor have they been subjected to a proper analysis. In this first look, we [...] |
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July 2010 Economic Trend
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Introductory note
Every five years, the Statistical Department carries a major survey on the income and expenditure of the households. That survey is a critical foundation in the process to update the composition of the basket of goods and services used for the calculation of the Consumer Price Index. But beyond that purpose, those surveys provide [...] |
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June 2010 Economic Trend
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Labour force:
age and sex structure
We look now at the overall labour force figures over the last decade
in terms of absolute changes in their composition.
The first table shows, for most of the period, a year-on-year increase in the workforce numbers, usually significant for both men and women. The exceptions are the recessive period in the earlier [...] |
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Find your muse
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You could argue that it is Macau’s biggest and most inclusive arts programme – and you’d find few who would disagree that Artmusing deserves the mantle. |
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May 2010 Economic trend
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Demography is probably – and one might say, regretfully – the most frequently ignored of the social sciences. |
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April 2010 Economic Trend
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Labour force 1
The employment and unemployment figures for the fourth quarter of 2009 are out. While the final figures for the whole year are yet to be made public, we can start gauging the effects on the labour market of the economic slowdown and the changes in the policies [...] |
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March 2010 Economic Trend
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GDP growth |
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February 2010 Economic Trend
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Export and Real State |
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January 2010 Economic Trend
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Foreign Direct Investment
The recent economic slowdown and the suspension of a number of construction projects both suggest that the figures for Foreign Direct Investment, in the current year, will also display more conservative behaviour. (Note that the series for this indicator only starts in 2001).
Table 1 [...] |
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