Non-residents deposits retreat

Non-resident deposits decreased 12.4% to MOP323.7 billion in December, while residents’ deposits slightly dropped 0.2% from the preceding month to MOP706.2 billion, data from the the Monetary Authority of Macao shows. Public sector deposits with the banking sector fell 4.3% to MOP193.5 billion. As a result, total deposits in the banking sector dropped 4.3% from a month earlier to MOP1,223.4 billion. Also, domestic loans to the private sector fell 1.2% from a month ago to MOP538.3 billion. Analyzed by economic sector, “electricity, gas and water” and “construction and public works” grew at respective rates of 4.3% and 1.7% when compared with last quarter.