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Macau GDP in Q1 slumps as casino revenues plunge

Macau GDP in Q1 slumps as casino revenues plunge

Macau’s economic output tumbled 24.5 percent in real terms in the first quarter, the Statistics and Census Bureau (DSEC) announced on Thursday, as a widening graft crackdown and slowing economy in the mainland keeps high rollers away from the city’s casinos. The fall in gross domestic product (GDP) from a year earlier was the deepest […]
Macau retail sales of watches jewellery fall 31 pct in Q1

Macau retail sales of watches jewellery fall 31 pct in Q1

Sales of watches, clocks and jewellery fell 31 percent to 3.7 billion patacas in the first quarter, the Statistics and Census Bureau (DSEC) announced on Tuesday. Watches, clocks and jewellery accounted for 23 percent of all retail sales –the sector’s biggest segment. Sales of leather goods dropped 28 percent to 1.59 billion patacas. Sales of […]
Macau inflation eases to 4.51 percent in April

Macau inflation eases to 4.51 percent in April

Macau’s inflation rate eased to 4.51 percent in April, the Statistics and Census Bureau (DSEC) announced on Thursday. According to a DSEC statement, the city’s composite consumer price index (CPI) for April increased 4.51 percent year-on-year, down from the 5.10 percent growth in March. The bureau pointed out that higher residential rents and the rising […]
Macau’s development keeps ‘positive trend’: Chui

Macau’s development keeps ‘positive trend’: Chui

Chief Executive Fernando Chui Sai On says in his first ever audio message, which was released on his official website on Sunday, that Macau’s overall development maintains a “positive trend”. However, he urged citizens to be aware of any challenges that may lie ahead. Chui also says in the audio message, whose release coincided with […]
Macau Airport records steady growth in April

Macau Airport records steady growth in April

In April this year, the Macau International Airport (MIA) recorded steady growth in passenger traffic volume and aircraft movements. Passenger volume surpassed 480,000 and aircraft movements totaled over 4,500, representing 6 pct and 6.5 pct increases respectively when compared to the same period last year. Among the three key regional market shares, the Taiwan market […]
Macau to cut spending if casino revenue dips under 18 billion patacas a month

Macau to cut spending if casino revenue dips under 18 billion patacas a month

Secretary for Economy and Finance Lionel Leong Vai Tac said Tuesday the government would have to cut its expenditure if the city’s average gross gaming revenue drops to 18 billion patacas a month. The policy secretary made the remark after attending an annual seminar hosted by the Macau Chamber of Commerce (ACM) in Nape. Leong […]
Macau visitors drop 3.6 percent in Q1, down 13 percent in March

Macau visitors drop 3.6 percent in Q1, down 13 percent in March

Macau recorded 7.4 million visitor arrivals in the first quarter, down 3.6 percent year-on-year, the Statistics and Census Bureau (DSEC) announced on Monday. Same day visitors accounted for 56.6 percent of the total number of visitor arrivals in the first three months. Mainlanders and Hongkongers accounted for 67.8 percent and 20.3 percent of all visitors […]
Prices in Macau increase 5.10 percent in March

Prices in Macau increase 5.10 percent in March

Prices in Macau rose 5.10 percent in March year-on-year driven by the increase in income from house rental prices and the cost of meals bought away from home, reported the Statistics and Census Bureau. Year-on-year the most significant increases were in the indices of Housing and Fuel (+10.58 percent), Health (+5.71 percent) and Food and […]
Practical results achieved in boosting Fujian-Macau co-operation

Practical results achieved in boosting Fujian-Macau co-operation

The Secretary for Economy and Finance, Leong Vai Tac, said Tuesday the visit to Fujian had achieved practical results in facilitating enterprises in the two places and in cross-boundary investments, further leveraging Macau’s advantages in the Portuguese-speaking countries. Speaking to reporters at the end of his two-day visit, Leong said aspects of co-operation explored included […]
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