Tag: economy
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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 ... -
Economy to surge up to 21% in 2024
Macau’s economy is forecasted to experience significant growth of between 8.3% and 21.0% in 2024, driven by diversification efforts. The University of Macau’s (UM) Macroeconomic Forecast ... -
Ho calls for further diversification efforts
Highlighting satisfactory economic data from this year, Chief Executive Ho Iat Seng called for all walks of life to help with diversification during his speech at ... -
Economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’
China’s economy grew at a 5.2% pace in the first three quarters of the year and showed signs of improvement in November, with factory output and ... -
Uneven recovery still problematic in Macau: MEA
The uneven recovery of the city’s economy remains a problem, the Macau Economic Association (MEA) has noted. The group said that although tourism districts, hotels and ... -
World Bank forecast economy to slow sharply in 2024
China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and ... -
Macau to retain strong growth: Fitch
Fitch Ratings predicts Macau’s year on year growth to remain strong, at 15% in 2024 from 76% in 2023, off the back of sharp rebounds in ... -
Economy Secretary confident in tourist arrivals reaching 28 million
The Secretary for Economy and Finance, Lei Wai Nong, is confident Macau will see 28 million tourists by year-end, given there have been over 25 million ... -
MICE sector shows signs of recovery as revenues surge
Receipts and expenditure of exhibition organizers totaled MOP38.58 million and MOP97.76 million respectively in the third quarter, representing growth of 279.0% and 155.5% year-on-year respectively. Data ... -
Economy at 77% of pre-pandemic levels
The city’s economy expanded by 116.1% year-on-year in the third quarter of 2023, attributable to thriving services exports. Notably, growth in gaming services exports and other ... -
Group expects economy to remain stable next three months
The end of the year will bring an even higher number of events, which will bring additional energy into the economy – expected to be stable ... -
China shows sparks of life, despite persisting weakness in troubled real estate sector
China’s economy showed more signs of reviving in October as retail sales and manufacturing picked up though the property sector remained sluggish, the government said yesterday. ... -
Chinese imports rise in October while exports fall for sixth straight month
China’s imports rose in October while exports fell for a sixth straight month compared with a year earlier in the latest evidence the world’s second largest ... -
Premier Li seeks to bolster his country’s economic outlook at the Shanghai export fair
Chinese Premier Li Qiang yesterday pledged to continue deepening reforms, expand free trade zones and relax market access for foreign investment while seeking to generate excitement ... -
Balancing ‘visible and invisible’ hands in diversification: Lei
Secretary for Economy and Finance Lei Wai Nong said economic diversification will be orchestrated under “the leadership of the market and the guidance of the government.” ... -
IMF: Macau has highest GDP growth rate until 2024
Macau has the highest growth rate projection for 2023 and 2024 among advanced economies listed by the IMF World Economic Outlook (WEO). The International Monetary Fund ... -
Group expects Q3 GDP to soar 130% y-o-y
Considering the extraordinarily weak gross domestic product (GDP) performance in the third quarter of last year, the figure for the third quarter this year may rise ... -
Inflation data show economy in doldrums despite a slight improvement in trade
China’s economy remains in the doldrums, data released Friday showed, with prices falling due to slack demand from consumers and businesses. Consumer prices remained flat in ... -
Fitch forecasts 65% GDP rebound in 2023
Fitch Ratings anticipates growth of up to 65% in Macau’s economy this year, driven by sustained recovery in the gaming and tourism sector. In its report ... -
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. ... -
Chinese officials voice faith in recovery, keep interest rates steady as forecasts darken
Leading Chinese planners voiced confidence yesterday in the outlook for the world’s second-largest economy, holding key interest rates steady amid signs of improvement in some areas ... -
Europe’s central bank faces close call on interest rates as threat of recession grows
Caught between stubborn inflation and weakening growth, the European Central Bank faces a close call yesterday on whether to halt its record run of interest rate hikes ... -
GDP grows 117% in Q2
Macau’s economy saw an upturn in the second quarter of the year, marking the highest quarterly growth since the second quarter of 2021. Data from the ... -
Xi calls for patience as Communist Party tries to reverse economic woes
Chinese leader Xi Jinping has called for patience in a speech released as the ruling Communist Party tries to reverse a deepening economic slump and said ... -
No update on surging youth unemployment as economic decline deepens
China’s government suspended giving an update on a possible spike in unemployment among young people as official data yesterday showed an economic decline deepened in July. ... -
Prosperity Index to rise amid steady recovery
The Macau Economic Association expects that the local prosperity index will continue to rise steadily from July to October. This comes after Macau’s tourism and gaming ... -
July exports tumble by double digits, adding to pressure to shore up flagging economy
China’s exports plunged by 14.5% in July compared with a year earlier, adding to pressure on the ruling Communist Party to reverse an economic slump. Imports ... -
GDP rose 39% in Q1, AMCM expects robust growth throughout 2023
Macau’s Gross Domestic Product (GDP) grew by 38.8% in the first quarter of the year as the local economy picked up sharply following the relaxation of borders. ... -
Economy misses growth forecasts, raising the odds of more support for its tepid recovery
China’s economic growth missed forecasts in the second quarter of the year, adding to worries over surging youth unemployment and a weak property sector and raising ... -
Group expects 1H GDP to rise 70% y-o-y
The estimated rise of the city’s GDP for the first half of the year is 70% year-on-year, the Macau Economic Association (MEA) has noted in a ...
