Annual rate of economic contraction 26.4 pct in Q2

2015/9/1

From：Macau Business

Macau’s gross domestic product was 26.4 per cent smaller in the second quarter of this year than a year earlier, official data show.

The Statistics and Census Service says the contraction was due mainly to a decline in exports of services – for the most part, spending by visitors in general and gamblers in particular.

Second-quarter exports of gaming services decreased by 40.5 per cent and exports of other tourism services decreased by 21.5 per cent.

In contrast, domestic demand was resilient.

The annual rate of economic contraction in the first quarter was 24.5 per cent.

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