Macau’s recession deepened in the third quarter when its gross domestic product shrank by 4.5% year-on-year.
DSEC
The unemployment rate of local residents rose 0.1 percentage point to 2.5% in the July-September survey period from the June-August period.
Macau recorded 30.2 million visitors in the first nine months of the year, a year-on-year growth of 17%.
Macau’s number of visitor arrivals rose 6.5% year-on-year to 3.62 million in August.
Macau’s restaurateurs reported “subdued” business in July.
Macau’s economy will shrink 0.8% this year and 0.9% next year.
Macau’s 1,190 hotels and guesthouses recorded 8.16 million guests in the first seven months.
Construction of Grand Lisboa Palace in Cotai would be completed by early next month.