Macau | December money supply closed 2017 in expansionary grounds

Macau (MNA) –

Macau (MNA) – Currency in circulation in December reached MOP14.9 billion (US$1.85 billion), up 1.6 per cent month-to-month and 10 per cent year-on-year,

data by the Monetary Authority of Macao (AMCM) revealed on Monday.

The M2 measure – which includes cash, demand deposits and quasi-monetary liabilities – grew 0.5 per cent month-to-month to MOP 591.4 billion, up 11.1 per cent year-on-year.

The currency composition of M2 is 54.2 per cent Hong Kong dollars, 30.9 per cent patacas, 9 per cent US dollars, and 4.1 per cent renminbi.

Deposits in the banking sector increased 1.1 per cent month-on-month to MOP1.02 trillion, with resident deposits growing 0.5 per cent month-on-month to MOP576.6 billion and non-resident deposits up 1.3 per cent to MOP254.2 billion.

Public sector deposits with the banking sector reached MOP191.8 billion, an increase of 2.9 per cent in monthly comparison and 9.7 per cent year-on-year.

The share of currencies on deposit was 20.2 per cent patacas, 51.4 per cent Hong Kong dollars, 3.9 per cent renminbi and 21.2 per cent US dollars.

Meanwhile, domestic loans to the private sector were up 1.6 per cent month-to-month and 8.4 year-on-year to MOP458.4 billion.

Loans to ‘transport, warehouse and communications’ and ‘manufacturing industries’ decreased 13.5 per cent and 9.9 per cent, respectively, quarter to quarter. Those to ‘construction and public works’ and ‘exhibitions and conferences’ were up 12.8 per cent and 4.8 per cent quarter to quarter, respectively.

Outbound loans decreased 0.3 per cent month-to-month to MOP437.6 billion. However, the measure grew 21 per cent year-on-year.

At the end of December, the loan-to-deposit ratio for the resident sector rose from 59.4 per cent at end-November to 59.7 per cent, said AMCM.

The non-performing loan ratio decreased from 0.3 per cent in November to 0.2 per cent in December.