Monetary Authority sees economic slump persisting

2015/7/27

From:Macau Business

The Monetary Authority of Macau forecasts that Macau’s gross domestic product will contract by about 15 per cent this year as the economic downturn persists.

The authority’s latest quarterly report forecasts annual contraction in GDP of between 10 per cent and 13 per cent in the second half.

“The deterioration in gaming revenue has dragged the economy into the contraction zone, given that service exports’ contribution to overall growth is significant,” the report says.

But it adds: “There has been a weakening sign of year-on-year contraction in gross gaming revenues since March 2015.”

Copyright@Macau Business