Macau: GDP growth slows in Macau to 11.3 pct in third quarter

2 December 2008

Macau, China, 2 Dec – Macau’s Gross Domestic Product (GDP) growth fell in the third quarter to 11.3 percent, the Statistics and Census Bureau said in Macau Monday.

The bureau also said it had raised GDP growth posted in the first and second quarters from 31.6 percent to 32.3 percent and from 21.1 percent to 22.2 percent, respectively, and lowered the figures for 2007 from 27.3 percent to 25.6 percent.

In the period, growth in total gaming revenue slowed, although it had grown in nominal terms by 27.6 percent against the same period of 2007, the rise was lower than that seen in the first quarter (61.8 percent) and in the second quarter (47.6 percent) of 2008.

Visitor expenditure (excluding gaming) rose by just 4.2 percent, whilst gross fixed capital formation fell 25.2 percent, due to a fall in investment in construction and equipment, with export of products also having fallen substantially by 26.5 percent. (macauhub)