According to statistics released today by the Monetary Authority of Macao, broad money supply retreated in June with a stable share of patacas. Meanwhile, resident deposits decreased from a month ago whereas loans to residents posted an increase.

Money supply

Currency in circulation rose 0.9% whereas demand deposits dropped 6.7%. M1 thus decreased 4.9% from one month earlier.  Meanwhile, quasi-monetary liabilities fell 0.6%.  The sum of these two items, i.e. M2, retreated 1.1% to MOP695.1 billion.  On an annual basis, M1 and M2 dropped 9.7% and 2.4% respectively. The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and United States dollar (USD) in M2 were 35.0%, 50.2%, 5.6% and 7.5% respectively.

Deposits

Resident deposits decreased 1.2% from the preceding month to MOP675.7 billion whereas non-resident deposits rose 2.4% to MOP359.9 billion.  Meanwhile, public sector deposits with the banking sector rose 0.3% to MOP266.8 billion.  As a result, total deposits in the banking sector edged up by 0.1% from a month earlier to MOP1,302.5 billion.  The shares of MOP, HKD, RMB and USD in total deposits were 19.2%, 52.8%, 5.2% and 20.5% respectively.

Loans

Domestic loans to the private sector grew 1.9% from a month ago to MOP554.0 billion. Analysed by economic sector, “manufacturing industries” and “wholesale and retail trade” increased at respective rates of 17.0% and 9.5% compared with a quarter ago, whereas “information technology” dropped 0.5%. Meanwhile, external loans rose 5.1% to MOP796.4 billion. As a result, total loans to the private sector went up by 3.8% from a month earlier to MOP1,350.4 billion.  The shares of MOP, HKD, RMB and USD in total loans were 15.0%, 36.9%, 16.0% and 28.5% respectively.

Operating ratios

At end-June,the loan-to-deposit ratio for the resident sector rose from 57.3% at end-May to 58.8%.  Meanwhile, the ratio for both the resident and non-resident sectors increasedfrom 100.0% to 103.7%.  The one-month and three-month current assets to liabilities ratios stood at 65.3% and 58.3% respectively.  Concurrently, the non-performing loan ratio decreased from 0.36% at end-May to 0.34%.