Tag: economy
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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 ... -
GBA’s GDP totals RMB13t in 2022
The gross domestic product (GDP) in the Greater Bay Area (GBA) exceeded RMB13 trillion last year. The data from the Bureau of Statistics of Guangdong Province ... -
Economy bouncing back from Covid, prosperity ahead
The local economy, as reflected by the Prosperity Index, has swiftly bounced back up to 3.6 points in January and is expected to reach 4 points ... -
Economy recovering to over 60% of pre-pandemic era: Pansy Ho
As at Chinese New Year, Macau’s economy has recovered to 60–70% of the pre-pandemic era, said Pansy Ho, CPPCC member, vice president of the All-China Federation ... -
China’s trade contracts as Western demand weakens
China’s trade contracted again in January and February as U.S. and European demand weakened in the face of interest rate hikes, adding to pressure on official ... -
Chinese planners promise 12 million jobs, economic rebound
Chinese economic officials expressed confidence yesterday they can meet this year’s growth target of “around 5%” by generating 12 million new jobs and encouraging consumer spending ... -
GDP plunges 27% in 2022
The economy of Macau declined by 26.8% year-on-year in real terms in 2022, data from the Statistics and Census Service (DSEC) showed. In 2022, Gross Domestic ... -
UM forecasts up to 44% GDP growth in 2023
The University of Macau (UM) projects that the economy will grow between 20.5% and 44.1% this year, with recovery being more obvious in the second half ... -
China’s growth falls to 3%, gradually reviving
China’s economic growth fell to its second-lowest level in at least four decades last year under pressure from anti-virus controls and a real estate slump, but ... -
Group expects Prosperity Index to improve this month
The city’s Prosperity Index is estimated to increase by almost a whole point this month, the Macau Economic Association (MEA) announced in a statement. The index ... -
China’s trade surplus swells to $877.6b as exports grow
China’s trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut ... -
Chinese regulators approve capital expansion for Ant Group
Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after ... -
Prosperity expected to remain ‘low’ 2023Q2
The city’s prosperity index will likely bounce out of low rankings during or by the second quarter next year, the Macau Economic Association (MEA) has estimated. ... -
Fitch estimates 46% rebound in 2023 amid ‘lack of clarity’ on timing of policy shifts
Heightened policy uncertainty and a lacklustre recovery in mainland China, coupled with the global monetary tightening cycle and recessions in the US and Eurozone, will affect ... -
SAR’s bleak scenario continues as GDP contracts 33% in Q3
The SAR’s gross domestic product (GDP) plunged 33.4% year-on-year in the third quarter of this year as the city battled its largest outbreak since 2020. Due ... -
UK inflation accelerates to 41-year high of 11.1%
Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it ... -
China consumer, factory activity down as virus controls rise
Chinese consumer spending contracted in October and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy. Retail sales sank 0.5% ... -
Association identifies economy as central public concern
With the economy at the center of public discussion, a survey has discovered that residents want adjustments to the cash handout policy. The Choi In Tong ... -
Renault, Geely announced powertrain joint venture
Renault SA and China’s Geely announced plans yesterday for a jointly owned venture to produce gasoline-powered and hybrid powertrains, adding to a series of partnerships between ...
