GROUP EXPECTS ECONOMY TO RUN SLOW FROM MAY TO JULY

Macau Economic Association (MEA) forecast the city’s economy to experience a low growth in the months from May to July, with the Prosperity Index expected to score between 2.2 and 2.4.

The scores remain within the range considered as “depressed.”

Despite the forecast, the group estimates that the economy will see some growth during the aforementioned three months.

The main reason behind the forecast could be the consumption stimulus put forward by the government, which will kick in at the start of June, as the MEA pointed out in a statement that the stimulus would help to boost internal consumption and economic performance, as well as improve the overall atmosphere of the market.

The group additionally highlighted data from the government’s Statistics and Census Service about the first quarter’s registered capital of new business establishments, which rose by 60 fold year-on-year to reach the figure of MOP13.5 billion.

This, according to the MEA, is a reflection of the business sector’s confidence in the city’s economic development and prospects.

Source: https://macaudailytimes.com.mo/group-expects-economy-to-run-slow-from-may-to-july.html