Tag: economy
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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 ... -
Exports slumped 12.4% in June from a year earlier as global demand weakened
China’s exports tumbled 12.4% in June from a year earlier as demand weakened after central banks raised interest rates to curb inflation even as Chinese leaders ... -
Macau records below-passing Consumer Confidence Index in Q2
The city has obtained a score of 94.33 in the Consumer Confidence Index in the second quarter of the year, on a scale of 0 to ... -
Survey shows manufacturing contracted in June as export orders decreased
China’s factory activity contracted for another month in June as export orders decreased, an official survey showed Friday, adding to signs an economic rebound following the ... -
Premier says economic growth is accelerating and the country can hit its 5% target this year
China’s No. 2 leader said yesterday that economic growth accelerated in the latest quarter and expressed confidence it can hit the ruling Communist Party’s official target ... -
UK borrowers brace for more expensive loans as inflation fails to fall as anticipated
Borrowers in the U.K. will be bracing themselves for further increases in lending costs after official figures yesterday showed inflation failing to fall as anticipated in ... -
New Zealand’s economy dips into recession as higher interest rates bite
New Zealand’s economy has dipped into recession as higher interest rates take their toll, new figures released yesterday show. Gross domestic product fell by 0.1% in ... -
City’s Prosperity Index remains at ‘Stability’ level
With a projected Prosperity Index at 5.5 for June 2023, Macau’s economy should retain robust synergy and achieve better results during the summer holiday, the Macau ... -
After good first quarter, China struggles with weaker recovery
Sales of Yizhuan Automobile Co.’s trash trucks picked up after China ended anti-virus controls in December, but their growth is in low gear as managers struggle ... -
Trade tumbles in May, adding to signs economic recovery is slowing
China’s exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs an economic rebound following the end of anti-virus ... -
Europe sees inflation drop to 6.1%, but real relief will take months
Europe’s inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see ... -
GDP up 38.8% year-on-year in Q1
Macau’s Gross Domestic Product (GDP) saw growth of 38.8% in the first quarter (Q1) of this year compared to the same period of 2022, a release ... -
Recovery faces pressure after April activity weak, youth unemployment rises
Chinese leaders face pressure to shore up a slowing economic recovery and generate jobs after consumer spending and other activity in April were weaker than expected ... -
Volkswagen sees sales slump in China, vows rebound this year
Volkswagen profits fell 30% in the first three months of the year despite booming business in Europe and North America because sales dropped in China, where ... -
Beijing boosts German business optimism, but challenges ahead
A key measure of German business optimism rose in April for the seventh month in a row amid lower natural gas prices and the reopening of ... -
German government, unions reach pay deal for public workers
German government officials and labor unions have reached a pay deal for more than 2.5 million public-sector workers, ending a lengthy dispute and heading off the ... -
Growth accelerates with consumption boost
China’s economic growth accelerated in the latest quarter as consumer flocked back to shops and restaurants following the abrupt end of anti-virus controls. The 4.5% growth ... -
Q2 GDP expected to nearly double y-o-y
Macau’s Gross Domestic Product (GDP) for the second quarter of this year is expected to rise by 90% year-over-year, the Macau Economic Association (MEA) has noted ... -
Economy Auto show highlights intense electric car competition
Global and Chinese automakers plan to unveil more than a dozen new electric SUVs, sedans and muscle cars this week at the Shanghai auto show, their ... -
Exports rebound unexpectedly to growth in March
China’s exports rebounded unexpectedly to growth in March despite a decline in U.S. and European demand following interest rate hikes to cool inflation. Exports rose 14.8% ... -
ADB forecasts China, India to power strong growth in ‘23
China’s recovery from the pandemic and strong demand in India will drive strong economic growth in Asia this year, the Asian Development Bank said in a ... -
Commodity prices unlikely to fall: Academic
The possibility of commodity prices falling soon remains vague, president Samuel Tong Kai Chung of the Macau Institute of Management said. He said the pressure is ... -
Bank survey shows Japan’s businesses turning pessimistic
Business sentiment among big Japanese manufacturers worsened in the first quarter of this year in the fifth straight decline, according to a central bank survey released ... -
Consumer prices up 1.02% in February
The average Composite Consumer Price Index (CPI) has grown in February by 1.02% in comparison with the last 12 months, a statistics release from the Statistics ...
