Economy

Consumers regaining confidence as reflected by latest research

The Consumer Confidence Index for the third quarter crossed a threshold rate, signaling a regain in confidence, Macau University of Science and Technology (MUST) has announced.

On a scale ranging from zero to 200 – the larger the score, the greater the confidence – 100 is the passing grade. The Index reached 101.94 in the third quarter.

The university highlighted that the preceding quarter’s Index not only continued the rising trajectory, but also crossed the passing grade. It added that five of the six determinants have crossed the passing grade, with only commodity prices about 15% lower than the passing grade, or 85.59 points. Despite this fact, it is still 12% higher than that in the second quarter.

The university sees it as a sign of a constantly consolidating economy. Looking forward, MUST reiterated that further diversification of the local economy must be promoted to further integrate Macau, Hengqin and Guangdong Province. This will support consumer confidence. It also expressed the belief that China will continue to recover economically.

As for the other determinants, the local economy scored 113.45, residential purchases 102.74, employment conditions 104.75, standard of living 101 and investment in stocks 104.10. These have increased from the previous quarter by 18.28%, 14.86%, 2.8%, 2.6% and 0.24% respectively.

MUST recapped that the economy was still unstable in the third quarter amidst external complexity and challenges. International investments have slowed down and inflation remained high.

The Index is co-calculated with Capital University of Economics and Business, Central University of Finance and Economics, City University of Hong Kong and Fu Jen Catholic University.

Categories Macau