(CORRECTED) THE M3: CHINESE LOANS SHRINK; S'PORE GDP; SWINE BACTERIA;TOURIST DATA

10/14/11 09:00AM EDT

The Macau Metro Monitor, October 14, 2011

CHINA LENDING SHRINKS AS WEN WRESTLES INFLATION Bloomberg

According to the PBoC, September new loans were $470 BN yuan (US$73.7 BN), the least since 2009.  Consumer prices rose 6.1% compared with a 4% goal.  M2 money supply rose 13% YoY, the least in almost a decade, and data for foreign-exchange reserves pointed to capital outflows.

SINGAPORE CUTS GROWTH FORECAST, CENTRAL BANK EASES POLICY Bloomberg, Channel News Asia

The Monetary Authority of Singapore (MAS) cut its 2012 GDP forecast from 5-6% to 5%.  It also said it will reduce the slope of the policy band of its currency and continue with a modest and gradual appreciation.  This is the 1st time of monetary policy easing since 2009.  An advance estimate for S'pore 3Q GDP showed 1.3% QoQ growth and 5.9% YoY growth.  MAS added that core inflation stood at 2.2% in the second quarter and the first two months of 3Q, compared to 1.9% in 1Q.

SWINE STREPTOCOCCUS CASE FOUND IN MACAU Macau Daily Times

A case of swine streptococcus was found in a 60-yr HK resident living in Macau.

MACAU PACKAGE TOURS AND HOTEL OCCUPANCY RATE FOR AUGUST 2011 DSEC

Visitor arrivals in package tours in August 2011 soared by 49.4% YoY to a record high of 713,383.  Visitors from Mainland China (513,094); Taiwan (53,358); Hong Kong (33,356) and the Republic of Korea (30,532) surged by 46.6%, 124.2%, 28.8% and 113.6% respectively.

At the end of August 2011, total number of available guest rooms of hotels and guest-houses increased by 2,384 (+12.1% YoY) to 22,151 rooms, with that of 5-star hotels accounting for 63.4% of the total.  Hotels and guest-houses received 809,120 guests in August 2011, up by 16.3% YoY, with the majority coming from Mainland China (53.9% of total) and Hong Kong (21.8%). The average length of stay of guests decreased by 0.05 night to 1.4 nights.

MACAU TOURIST PRICE INDEX FOR THE 3RD QUARTER 2011 DSEC

Macau Tourist Price Index for 3Q surged 16.7% YoY and 4.8% QoQ.  The rise was attributed to higher hotel room rates, restaurant service charges, food prices and jewelry prices. 

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