| Status | 已發表Published |
| 2015-2016 Economic Analysis and Forecast for Macao | |
Mirrlees, J. A.; Kwan, F. ; Ho, W. H.; Liu, C. W. ; Chan, C. S.
| |
| 2016-01-29 | |
| Abstract | According to the IMF forecasts on January 2016, global growth will be lower to about 3.4% in 2016. U.S. GDP will be expected to expand at 2.6% and the Euro Area is likely to grow slightly at 1.7%. For Mainland China, the GDP growth rate has slowed down to 6.8% in the fourth quarter of 2015. This affected Hong Kong, another major market of Macao’s service exports, to have a lower growth. It grew by 2.3% in third quarter of 2015. The U.S. Fed has raised its interest rate on December 2015 and is expected to continue the increase in 2016. European Central Bank has begun its Quantitative Easing to mitigate the possibility of recession and deflation in eurozone. Mainland China’s GDP expected to grow at slower pace in 2016 amid the Central Government tries to reform mainland China’s economic structure. Macao gaming revenue was hit by the Central Government’s policy on anti-graft campaign. As Macau Pacata is indirectly pegged to US dollar through the link with Hong Kong dollar, its value continues to appreciate against other currencies. These factors will put pressure on Macao’s tourist industry. The exports of services are expected to decrease by 33.4% and 15.6% in 2015 and 2016 respectively. Exports of goods grew drastically in 2014 and are expected to grow by 14.7% and 0.3% in 2015 |
| Keyword | Macroeconomics Forecast Macau economy |
| Language | 英語English |
| The Source to Article | PB_Publication |
| PUB ID | 24443 |
| Document Type | Report |
| Collection | DEPARTMENT OF ECONOMICS |
| Corresponding Author | Liu, C. W. |
| Recommended Citation GB/T 7714 | Mirrlees, J. A.,Kwan, F.,Ho, W. H.,et al. 2015-2016 Economic Analysis and Forecast for Macao, 2016. |
| Files in This Item: | There are no files associated with this item. | |||||
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