Macau’s GDP shrank by 13.3 per cent year on year in the first quarter, according to data released by the region’s statistics and census bureau, DSEC.
The statement blamed the fall on “the continuous decline in exports of services and decrease in investment.”
Exports of gaming services fell 17.1 per cent, with gaming services accounting for approximately 52 per cent of GDP.
According to DESC, “despite the prevailing favourable employment conditions, pay growth remained subdued, dragging down private consumption expenditure by 2.3 per cent year on year, with a notable decline in expenditure on durable goods.”
Source: Asia Gaming Brief
