Macao’s consumers have edged into new territory for the first time this year – scraping a passing score in the city’s quarterly Consumer Confidence Index, the Macau Daily Times reports.
The index of Macao’s consumers is made up of six determinants, scored between zero and 200. A score of 100 or more means consumers feel confident about the economy’s prospects.
Results for the third quarter reveal an overall score of 101.94 – up from 94.33 in the second quarter, and 87.43 in the first.
Scores for the six determinants were as follows: local economy at 113.45; employment conditions at 104.75; investment in stocks at 104.10; residential purchases at 102.74; standard of living at 101; and commodity prices at just 85.59.
[See more: Macao’s Prosperity Index is set to rise, but forecasters say hurdles remain]
The Consumer Confidence Index is administered by Macau University of Science and Technology (MUST), which surveys about 800 local residents aged 18 or higher to get the results.
MUST reportedly said this quarter’s index indicated a “constantly consolidating economy.”
It noted that consumer confidence would be enhanced by Macao’s increased integration with Hengqin and Guangdong province in general, and by diversification within the domestic economy.
