Macau’s GDP rises 11.4 percent in third quarter

1 December 2006

Macau, China, 01 Dec –Macau’s Gross Domestic Product (GDP) posted real growth of 11.4 percent in the third quarter of the year, the Statistics and Census Bureau said in Macau Thursday.

Also according to the Bureau, GDP growth in the first quarter was lowered from 19.2 percent to 19 percent and in the second quarter remained unaltered at 16.3 percent.

The Statistics’ Bureau added that GDP growth was due to increased gaming and gambling revenues, which, in nominal terms, rose 18.6 percent year on year.

Analyzing the main components of GDP, the Bureau said that private spending rose 7.9 percent in the third quarter. Gross fixed capital formation (GFCF), which is a reflection of investment levels, maintained high growth, with 26.7 percent in the third quarter, although it was much lower than the 55.6 percent posted in the second quarter.

Private sector investment increased 35.4 percent, due to a substantial increase of 50.5 percent in investment in construction, while public sector investment fell 33.6 percent. (macauhub)