Macau’s economy grows 21.8 pct from January to September

1 December 2011

Macau, China, 1 Dec –Macau’s Gross Domestic Product (GDP) posted real growth of 21.8 percent in the first three quarters of the year and the GDP deflator, which measures overall inflation, rose 5.7 percent year-on-year, the Statistics and Census Service said.

Also according to the same figures GDP posted real growth of 21.1 percent in the third quarter of the year, a rise that was driven by services exports, consumer spending and investment.

Exports of gaming and gambling services rose 39.8 percent, total visitor spending (except for gambling) rose 9.1 percent, consumer spending rose 9.0 percent, investment rose 5.7 percent and government spending rose 6.9 percent, whilst exports of goods saw a drop of 4.4 percent.

GDP growth for the first and second quarters of 2011 was revised downwards, from 21.6 percent to 20.9 percent and from 24 percent to 23.4 percent, respectively, and for 2010 was revised upwards, from 26.4 percent to 27.1 percent, the Statistics and Census Service said.

According to the Economist Intelligence Unit (EIU) the Macau economy is expected to post real average growth of 13 percent in 2012 and 2013, years in which investment is expected to start rising slightly against expected figures for 2011. (macauhub)