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Consumer confidence in Macao is on the rise again 

The consumer confidence index in the second quarter grew by almost 10 percent during the first quarter, with all six of its sub-indices witnessing substantial gains
  • The Chinese economy, however, continues to face challenges that risks stifling growth in the near to mid term.

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ARTICLE BY

PUBLISHED

Macao’s consumers are feeling more upbeat, according to the consumer confidence index for the second quarter of this year, compiled by the Macau University of Science and Technology (MUST).

The index for the second quarter totalled 104.22, an increase of 9.74 percent in comparison to the score of 94.97 recorded for the first quarter 

Unlike the previous quarter, there was growth across all six of the sub-indices. Investment in stocks witnessed the greatest quarter-on-quarter increase, rising by almost 15 percent, with a score of 111.48. In second and third place were standard of living (105.40) and employment conditions (104.09), which saw growth of around 12 percent and 11 percent respectively. Commodity prices (92.97), residential purchases (94.18) and the local economy (117.18) saw their scores increase by approximately 8 percent, 7 percent and 5 percent respectively. 

[See more: Macao’s employee indicators are back to pre-pandemic levels, study finds]

MUST researchers stated that index growth had “reached a record high,” indicating that residents were generally confident with respect to the economic indicators. 

However, they warned that the world economy was still uncertain and that global growth prospects were “weak,” and added that China’s economy faced a range of obstacles, including insufficient demand. 

Conducted last month, the study surveyed a total of 820 Macao residents who had to give a score between 0 and 200 for the six determinants, with 0 indicating no confidence and scores of 100 or more representing confidence. 

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