Q422 consumer confidence runs below passing grade

Despite a 13% rise from the third quarter last year, the fourth quarter’s Consumer Confidence Index was 77.56 out of 200, which is below the passing grade of 100, the Macau University of Science and Technology (MUST) has announced.

The MUST emphasized that the quarterly rise was noteworthy, adding that the index for Q3, 2022 was the second lowest from the first edition in 2008. Further interpreting the findings, the university sees the increase as an indication that Macau is moving up from an economic trough.

Nonetheless, the MUST warns that the foundation for economic recovery in the mainland still needs to be strengthened, seeing as the high pressure caused by demand contraction, supply bumps and weakening expectations still exist.

With an assured loosening of restrictions on domestic movements, the economic outlook is optimistic, the MUST added.

The institution highlighted that all indicators have recorded a rise, with Employment Condition displaying the most significant increase, 18.69% to be precise. Local Economy obtained a score of 77.42, a 17.98% rise quarter-over-quarter.

Stock Investment scored 78.91, a quarterly increase of 12.97%; Price Level 72.63, a quarterly increase of 9.68%; Living Standard 82.10, a quarterly increase of 8.13%; Purchasing Housing 77.89, a quarterly increase of 9.40%.

The index was calculated by five universities: two in Beijing, one in Hong Kong and one in Taipei.