Macau’s economy contracted by 10.3% in real terms in the first half of 2016, reported the region’s Statistics and Census Bureau (DSEC).
In the first six months of the year there were contractions in the main components of GDP – of -2.3% in private consumption, -23.5% in gross fixed capital formation or investment, -24.7% in exports of goods of 18.1% in imports of goods, -11.7% in exports of services and -3.4% in imports of services.
In the second quarter, Macau’s economy contracted by 7.1% in real terms, lower than the drop of 13.3% in the first quarter of the year.
According to the Bureau the improvement was due to the alleviation of the downward trend in exports of services and investment.
In the second quarter, exports of gaming services and other tourist services fell 12.0% and 7.4%, respectively, and were lower than the values of -17.1% and -11.0% in the first quarter.
The implicit GDP deflator (measuring overall inflation) increased 0.1% in annual terms. (macauhub/MO)