Macau’s GDP sees biggest fall in second quarter since 1998

1 September 2009

Macau, China, 1 Sept – Macau’s Gross Domestic Product (GDP) fell 13.7 percent in the second quarter against the same period of 2008, the biggest drop since 1998, when the quarterly analysis of the indicator began, according to official figures released Monday.

According to Macau’s Statistics and Census Bureau, Macau’s GDP contracted between January and June, with a fall of 12.8 percent against the same period of 2008.

The fall in GDP in the second quarter was due to a 12.2 percent fall in gross revenues from the Gaming sector and 20.6 percent in visitor spending, in nominal terms and compared with the same period of 2008, official figures showed.

Gross fixed capital formation, in its turn, fell by 27.4 percent due to the “suspension of work on large construction projects.” (macauhub)