Blame last year’s higher base of comparison.
Macau GDP growth moderates to 6.1% YoY in Q3 mainly due to last year’s higher base of comparison as the company rebounded.
According to OCBC Bank Research, declining levels in private investment and domestic consumption contributed to this quarter’s lacklustre performance.
Additionally, two major typhoons have caused a slowdown in economic activities.
However, Macau’s strong tourism and gaming sectors continue to drive growth as exports of gaming services increased 18.4% YoY and exports of other tourism services rose 9.4% YoY.
The report adds that the country may soon regain some traction with several mega projects to be rolled out in 2018.
This will likely open up job opportunities which can increase household spending.
Do you know more about this story? Contact us anonymously through this link.