The International Monetary Fund (IMF) has revised its forecast for Macau’s economic growth downwards to 6.3%, according to the Fall World Economic Outlook, published recently.
The 6.3% rate represents a contraction of 70 basis points or 0.7 percentage points over the 7.0% forecast released last April in the Spring World Economic Outlook.
If the IMF’s forecast is corect Macau’s economy will contract by 2.8 percentage points this year, bearing in mind that the growth rate in 2017 was 9.1%.
The most recent figures on Macau’s Gross Domestic Product released by the region’s Statistics and Census Bureau showed that the economy of the territory grew at a rate of 7.6% in real terms in the first half of 2018.
There was a slowdown quarter-on-quarter, as Macau’s economy grew at a rate of 9.2% in the first three months of the year. In the second quarter, this growth was 6.0%.
GDP figures for the third quarter of 2018 are scheduled to be released by the Statistics and Census Bureau on 22 November. (macauhub)