Tag: economy
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Recovery dragged down by property slump and weak consumption in July
A continued property crisis and weak consumption dragged on China’s economic recovery in July, according to data released yesterday by the National Bureau of Statistics. Unemployment ... -
Economists advocate direct support to consumers
China’s central government should consider additional direct support to consumers worth at least 1 trillion yuan ($139 billion) — either cash or vouchers — in the ... -
MEA forecasts 17.5% GDP growth in first half
The Macau Economic Association (MEA) has forecast the local economy will post year-on-year growth of about 17.5% in the first semester (H1) of this year, according ... -
Economy slowed in the last quarter as weak consumer demand dragged on growth
China’s economy expanded at a slower-than-forecast 4.7% annual rate in the last quarter, the government reported yesterday, while emphasizing signs of improvement in factory output, income ... -
Surveys show economy growing but at modest pace
Surveys of Chinese factory managers showed a mixed outlook for the world’s second-largest economy in June, with growth steady but not picking up much steam. The ... -
Big brands continue with a mainland-tourists-only sales orientation
The Times has learned that some local representatives of major electronics brands continue to have a mainland-tourists-only approach to sales, disregarding other markets such as the ... -
Central bank keeps lending rate unchanged as data show housing market is still struggling
China’s central bank kept a key lending rate unchanged yesterday, choosing not to loosen credit as data for May showed signs of persisting weakness in the ... -
IMF: Economic output expected to return to pre-pandemic levels in 2025
The International Monetary Fund (IMF) highlighted the strong recovery of city’s economy post-pandemic and agreed that the implementation of effective economic diversification policies would “strengthen the ... -
IMF upgrades its forecast for Chinese economy, but says reforms are needed
The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF’s report, ... -
Education, social safety vital for Asia to grow rich, cope with aging: UN report
As economies in Asia and the Pacific slow and grow older, countries need to do more to ensure that workers get the education, training and social ... -
Economy rebound surpasses expectations as GDP rises 26% in Q1
Macau’s economy has shown remarkable signs of recovery in the first quarter of 2024 as the gross domestic product (GDP) surged 25.7% year-on-year in real terms, ... -
Prosperity index forecast to remain high
The Macau Economic Association (MEA) released a report yesterday forecasting that Macau’s economic prosperity index will remain relatively high between May and July. In the report, ... -
Macau second among world’s wealthiest regions
Macau has maintained a prominent position on the list of the world’s wealthiest regions, appearing on the 2024 compilation of the “Richest Countries in the World ... -
IMF affirms economy will grow 14% this year in fresh report
The International Monetary Fund (IMF) has affirmed its prediction that the local economy will grow by 13.9% this year and 9.6% next year, according to its ... -
Economy grew 5.3% in first quarter, beating expectations
China’s economy expanded at a faster than expected pace in the first three months of the year, helped by policies aimed at stimulating growth and stronger ... -
Economy to recover 19% year-on-year in Q1: association
The Macau Economic Association has announced its predictions for Macau’s first-quarter economic performance, indicating a promising recovery for the region. According to the association’s forecast, the ... -
UM lowers GDP growth forecast to 16.8%
The University of Macau (UM) has revised its economic projection on the SAR, predicting a growth of 16.8% to MOP415.3 billion (equivalent to 94.5% of the ... -
Macau tops Asia’s list of fastest growing economies in 2024
Macau has topped the list of Asia’s fastest growing economies in 2024, with a booming a real GDP growth rate of 27.2% and a GDP per ... -
February Inflation highest in 4 years, DSEC blames calendar
Last month’s inflation reached the highest point of the last four years, a statistics release from the Statistics and Census Service (DSEC) has shown. According to ... -
Economy shows signs of improvement, but its property sector is still in the doldrums
China’s manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau ... -
Rise in Q2 Prosperity Index expected
The second quarter of the year will see a slight rise in the Prosperity Index, the Macau Economic Association has forecast. Noting the economy is usually ... -
IMF projects this year’s growth at 14%
The International Monetary Fund (IMF) Mission has surveyed Macau’s macroeconomic and financial assessments, concluding that the local economy is “robust”. The preliminary conclusion from the IMF ... -
2023 GDP rebounds to 80% pre-pandemic levels
Macau’s economy expanded by 80.5% year-on-year in 2023, following the gradual resumption of local economic activity and exports of services. Government data shows GDP returned to ... -
Lei Wai Nong expects 90% pre-Covid GDP this year
Secretary for Economy and Finance Lei Wai Nong expects this year’s GDP will reach 90% of the level back in 2019, or a 10.3% de-facto year-over-year ... -
Chan Chak Mo: Business in non-tourist areas far from recovery
Despite robust economic growth and recovering consumer spending, restaurants and retailers in non-touristy areas are far from recovery. The recent 10-day Chinese New Year holiday period ... -
Central bank cuts key interest rate in latest move to boost its ailing property sector
China’s central bank announced yesterday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures ... -
Japan slips into a recession, loses spot as world’s third-largest economy
Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany. The government reported the economy shrank ... -
China, US hold economic talks as trade issues heat up on the campaign trail
Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in ... -
Chinese shares jump as Beijing steps up moves to boost sagging markets
A Chinese state investment fund promised to expand its purchases of stock index funds, among other moves signaling Beijing’s resolve to stabilize markets that have been ... -
Manufacturing contracts for a fourth straight month in January
A survey of factory managers in China released Wednesday shows manufacturing contracted in January for a fourth straight month, reflecting weak demand and a faltering recovery ... -
Evergrande ordered to liquidate after failing to restructure over $300 billion debt
A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion ... -
China’s GDP grows 5.2%, stock market shares fall
According to China’s National Bureau of Statistics, in 2023 the Chinese GDP grew by 5.2%, exceeding the government’s forecast of about 5% (3% in 2022). In ... -
UN forecast cites conflicts, sluggish trade, high interest and climate disasters
The United Nations issued a somber global economic forecast for 2024 last week, pointing to challenges from escalating conflicts, sluggish global trade, persistently high interest rates ... -
China to deliver decent future growth despite challenges: Morgan Stanley economist
China has made remarkable progress in its economic recovery, says Morgan Stanley Chief China Economist Robin Xing, adding that although there are still challenges, he is ... -
From AI and inflation to Musk and Swift
AI GOES MAINSTREAM Artificial intelligence thrust itself into public consciousness this year. But the technology, while dazzling for its ability to retrieve information or produce readable ...
