Macau economic prosperity index to be “stable” by Q2, analysts say
The Macau Economic Association sees signs of a rapid economic recovery.
Macau.- The Macau Economic Association has believes Macau’s economy has passed the downturn and that the economic prosperity index will return to a “stable” level in the second quarter. Analysts noted that it has risen from 2.2 to 3.4 in January, indicating a rapid economic recovery.
It is expected to rise to 3.6-3.9 in the next three months, which would remain “unsatisfactory” but return to “stable” levels within the second quarter. According to Macau Business, the association pointed out that the M2 money supply, a key indicator of Macau’s economic prosperity index, increased by 4.4 per cent year-on-year, reversing a downward trend.
As mainland China reopened its borders with Macau earlier this year, tourist arrivals increased, driving the growth in gross gaming revenue, the report notes. However, the association emphasised that there are still uncertainties and risks in the external environment, including the Russian invasion of Ukraine war and rising inflation.