Macau economy sees growth in third quarter

1 December 2009

Macau, China, 1 Dec – Macau’s Gross Domestic Product (GDP) posted real growth of 8.2 percent in the third quarter of 2009, putting an end to the economic contraction seen in the three previous quarters, the Statistics and Census Bureau said in Macau Monday.

In the period, gross gaming revenues rose 22.3 percent and total visitor spend, excluding gaming, saw an improvement rising from a year on year drop of 20.6 percent in the second quarter to a fall of just 10.2 percent, but gross formation of fixed capital and goods exports continued to fall, with drops of 41.3 and 54.4 percent, respectively.

Also according to the Bureau, GDP contraction in the first and second quarters and the first half of 2009 was lowered to 12, 15.3 and 13.6 percent, respectively.

Growth of the economy in 2009 was also revised downwards to 12.9 percent. (macauhub)