RTTNews - Macau's gross domestic product in real terms contracted 13.7% year-on-year in the second quarter, after an upwardly revised fall of 11.9% in the first quarter, the Statistics and Census Service said Monday. The statistical office said this was the worst decrease since the compilation of the quarterly GDP.
During the quarter, the gross fixed capital formation shrank 27.4%, slightly better than a 31.2% decrease in the preceding quarter. On the external front, the decline in trade worsened. Exports plunged 58.3%, while imports fell 24.4%.
Among the other major components of the GDP, private consumption expenditure rose 0.7%, while government final consumption expenditure grew 6.2%.
In the first six months of the year, the economy contracted 12.8% in real terms compared to last year.
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