GDP falls 2.1 pct in 2016, improving from 2015

2017-02-24 08:00
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Macau’s gross domestic product shrank by 2.1 percent year on year in real terms last year, an improvement from the 21.5 percent drop in 2015, the Statistics and Census Bureau (DSEC) said yesterday.
According to a DSEC statement, GDP contracted by 9.7 percent in the first half of 2016, but rebounded by 5.7 percent in the second half.

The statement attributed last year’s economic contraction mainly to the weakening of total demand. Domestic demand dropped 5.8 percent, private consumption expenditure fell 1.3 percent and gross fixed capital formation shed 13.3 percent.

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