Macau economy expected to grow by an average of 12.1 pct in 2013 and 2014

22 November 2013

The Macau economy is expected to see growth of 10.7 percent this year and 13.5 percent in 2014, according to projections in the latest report on Macau by the Economist Intelligence Unit (EIU), of the Economist group for the third quarter of 2013.

In 2010, 2011 and 2012 Macau posted real economic growth of 26.4 percent, 21.8 percent and 9.9 percent, respectively.

According to the EIU’s analysts investment, or gross fixed capital formation, will this year fall to 11.1 percent this year and 10 percent in 2014 following rates of growth of 17.1 percent in 2011 and 19.1 percent in 2012.

The rate of inflation is expected to remain at between 5 and 6 percent, which was around the level seen in 2011 (5.3 percent) and 2012 (6.1 percent), with the EIU projecting figures of 5.4 percent for 2013 and 6.0 percent for 2014.

The said that gaming, which is central to the Macau economy, had seen string growth this year as casinos announced significant revenues rises. For example, Sands China, a subsidiary of Las Vegas Sands, announced a 40 percent increase in its results in the second quarter to US$2.1 billion. (macauhub)