Prosperity index estimated to rise in Q4

Although remaining below mid-range, the Prosperity Indices for the last three months of the year are expected to rise slightly, the Macau Economic Association announced in a statement.
The association estimates that the Prosperity Index will rise from 2.8 points in October to 3.2 points in December. The index is a nine-point scale, with zero points being the lowest and eight points the highest.
To explain this estimate, the association noted that, globally speaking, the advantages underlying the tourism and leisure, entertainment, shopping and food areas still exist.
“Under the financial support issued by the Macau government, the long-term trajectory of a recovering economy should be retained,” the association explained in the statement, adding that a gradually stabilizing Covid-19 pandemic situation is beneficial in attracting more tourists to Macau.
The association’s estimates for the August and September indices are worse, however, with 2.8 points predicted for both months.
The main reasons behind these estimates are the constant falling of the Mainland consumer confidence index and the purchasing manager index for September, in addition to the calming of local investment, the decrease in gross gaming revenue, tourist arrivals and hotel occupancy. AL