According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in December with a stable share of patacas.  Meanwhile, both resident deposits and loans dropped from a month earlier.

Money supply

Currency in circulation fell 0.4% month-to-month whereas demand deposits rose 5.6%. M1 thus increased 4.1% from one month earlier.  On the other hand, quasi-monetary liabilities decreased 0.7%.  The sum of these two items, i.e. M2, retreated 0.1% to MOP692.4 billion.  On an annual basis, M1 dropped 7.9% whereas M2 grew 0.7%.  The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 34.0%, 48.9%, 5.1% and 10.3% respectively.

Deposits

Resident deposits edged down by 0.1% from the preceding month to MOP673.8 billion while non-resident deposits also dropped 1.1% to MOP322.1 billion.  On the other hand, public sector deposits with the banking sector rose 1.9% to MOP264.1 billion.  As a result, total deposits in the banking sector edged up by 0.1% from a month earlier to MOP1,260.0 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.2%, 49.5%, 5.3% and 22.2% respectively.

Loans

Domestic loans to the private sector fell 0.9% from a month ago to MOP534.2 billion. Analysed by economic sector, “construction and public works” increased 1.8% compared with a quarter ago, whereas “manufacturing industries” and “wholesale and retail trade” dropped 12.1% and 7.6% respectively. Meanwhile, external loans decreased 2.7% to MOP639.1 billion. As a result, total loans to the private sector fell by 1.9% from a month earlier to MOP1,173.4 billion.  The shares of MOP, HKD, RMB and USD in total loans were 17.0%, 41.9%, 11.0% and 27.0% respectively.

Operating ratios

At end-December, the loan-to-deposit ratio for the resident sector fell from 57.7% at end-November to 57.0%.  Meanwhile, the ratio for both the resident and non-resident sectors decreased from 95.0% to 93.1%.  The one-month and three-month current assets to liabilities ratios stood at 59.8% and 57.0% respectively.  Concurrently, the non-performing loan ratio decreased from 0.40% at end-November to 0.37%.