According to various economic data calculations released so far, Macau’s economic performance in April and May 2022 was “slightly lower than expected,” the Macau Economic Association shows. 2.1 points each.
“Under the influence of various internal and external complex factors, economic indicators continue at the’down’level. In the index system, only imports of commodity index data continued to “overheat” and consumer prices remained at “stable” levels, the association noted in a recent dispatch.
Year-over-year inflation in Macau rose to 1.06% in April. This is due to higher wages for domestic workers and higher prices for food, fuel, electricity, plane tickets, statistics and the Census Bureau (DSEC) away from home. ) The data shows.
Macau’s SAR gaming sector ended in May, with total game revenue of 3.3 billion MOP (US $ 413.4 million), up 25% from the previous month but still down 68% from the same month last year. ..
The association also quoted data pointing out that the mainland consumer confidence index plummeted 28.6% from 121.5 points to 86.7 points in April and 23.4% from 113.2 points to 86.7 points in April. This is the lowest since the outbreak of COVID-19 in early 2020. ..
At the same time, Macau’s money supply (M2) has shrunk for six consecutive months on an annual basis since November last year, with M2 down 3.5% on an annual basis to 67.89 billion MOP according to April data. rice field.
“As the M2 index fell significantly year-on-year, the score of this index system also fell to the’down’level for the first time. The number of tourists has improved slightly compared to March, but it is still only about 20 percent of the same month before the epidemic, “the association added.
Since June 2, Macau maintains a more relaxed COVID border policy with the mainland, as travelers entering from Guangdong must present a COVID visa within 7 days prior to entry, although the mainland Visa management for COVID travel obstacles and frequent gamblers may continue to affect short-term visits.
The average number of travelers per day in May reached about 42,000, 30% less than in the same month last year.
“Indicators such as total game revenue, stock prices of five major game companies, hotel guests, and occupancy remain at the’low’level. The employment market has failed to recover, with a local unemployment rate of 4.5%, the highest in Macau in nearly a decade, the association warned.
According to the latest figures from the Statistics and Census Service (DSEC), the unemployment rate for locals was 4.5% from February to April 2022, the highest since the first quarter of 2009 of the global financial crisis and overall. The unemployment rate has also reached 3.5%, the highest level since 23 years ago.
The association now estimates that the city’s prosperity index will be unsatisfactory between June and August due to changes in the arrival structure of tourists, and the number of same-day visitors from neighboring Guangdong cities is increasing.
