Macau’s gross domestic product shrank 4.7% in real terms last year, the Statistics and Census Bureau (DSEC) announced on Saturday.
Statistics and Census Bureau
Some 11.7 million guests checked into Macau’s 121 hotels and guesthouses in the first 10 months of the year, a year-on-year growth of 1.7%.
Macau’s package tour visitor arrivals dropped to 509,000 in October.
Local residents’ unemployment rate stood at 2.4% in the August-October employment survey period.
The value of Macau’s retail sales dipped by 0.5% year-on-year to 18.06 billion patacas, while the sales volume dropped by 0.7%.
Macau’s number of visitor arrivals last month rose a mere 1.8% year-on-year to 3.2 million.
A total of 12,719 people worked in Macau’s cultural industries last year.
Macau’s recession deepened in the third quarter when its gross domestic product shrank by 4.5% year-on-year.
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.