According to statistics released today (5 February) by the Monetary Authority of Macao, broad money supply retreated in December. Meanwhile, both resident deposits and loans decreased from a month earlier.
Money supply
Currency in circulation and demand deposits rose 0.5% and 2.4% respectively. M1 thus increased 1.8% from one month earlier. On the other hand, quasi-monetary liabilities dropped 0.5%. The sum of these two items, i.e. M2, decreased 0.3% to MOP726.6 billion. On an annual basis, M1 dropped 1.9% whereas M2 grew 1.2%. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 34.1%, 45.4%, 7.8% and 10.9% respectively.
Deposits
Resident deposits dropped 0.2% from the preceding month to MOP706.2 billion while non-resident deposits decreased 12.4% to MOP323.7 billion. Meanwhile, public sector deposits with the banking sector fell 4.3% to MOP193.5 billion. As a result, total deposits in the banking sector dropped 4.3% from a month earlier to MOP1,223.4 billion. The shares of MOP, HKD, RMB and USD in total deposits were 20.3%, 44.5%, 8.8% and 24.1% respectively.
Loans
Domestic loans to the private sector fell 1.2% from a month ago to MOP538.3 billion. Analysed by economic sector, “electricity, gas and water” and “construction and public works” grew at respective rates of 4.3% and 1.7% when compared with a quarter ago, whereas “wholesale and retail trade” and “restaurants, hotels and similar” fell 11.1% and 7.4% respectively. Meanwhile, external loans dropped 7.4% to MOP555.1 billion. As a result, total loans to the private sector went down by 4.5% from a month earlier to MOP1,093.3 billion. The shares of MOP, HKD, RMB and USD in total loans were 20.3%, 46.4%, 12.9% and 17.8% respectively.
Operating ratios
At end-December, the loan-to-deposit ratio for the resident sector decreased from 59.9% at end-November to 59.8%. Meanwhile,the ratio for both the resident and non-resident sectors decreased from 89.5% to 89.4%. The one-month and three-month current assets to liabilities ratios stood at 68.3% and 60.6% respectively. Concurrently, the non-performing loan ratio was 3.8%.