Macau: Macau’s GDP posts real growth of 31.6 pct in 1st quarter

30 May 2008

Macau, China, 30 May – Macau’s Gross Domestic Product (GDP) posted real growth of 31.6 percent in the first quarter of the year, a higher rate than the 22.1 percent for the fourth quarter of last year, the Statistics and Census Bureau said in Macau Friday.

The Bureau added that GDP growth was driven by gaming sector revenues, which rose 61.8 percent in nominal terms against the same period of 2007, and visitor expenditure, which saw a rise of 4.3 percent.

In the period, the Bureau noted, investment in Gross Fixed Capital Formation fell 17.6 percent, due to the successive conclusion of several large developments and exports of goods fell by 11.2 percent.

Also according to the Bureau private spending rose 9.6 percent in the first quarter of 2008, which was a lower growth rate than that posted for the previous quarter (9.7 percent). (macauhub)