Macau’s gross domestic product (GDP) for the first six months of this year is expected to recover to about 65 percent of the average GDP from 2017 to 2019, according to a projection from the Macau Economic Association cited in multiple media reports.
In making its forecast, the association highlighted the strong recovery of the tourism and gaming sectors, and added that economic indicators were slightly below expectations but stable and improving.
“Local consumer confidence has been gradually strengthened,” its report said.
[See more: The Economic Prosperity Index continues to rise, thanks to a surge in visitor numbers]
Official figures show that GDP recorded an annual increase of almost 39 percent, in real terms, in the first quarter of this year. This rise offset five consecutive quarterly declines due to the impact of the pandemic, as well as the nearly 27 percent decline for 2022 as a whole.
The association has given Macao a score of 5.2 points on its Economic Prosperity Index for the second quarter of the year – a stable rating. By contrast, the index stood at around 2.0 for most of 2022.
The rating is calculated using 13 indicators, including visitor numbers, imports, unemployment, the share prices of Macao’s gaming concessionaires and money supply.
