Macau GDP shrank 4.5 percent year-on-year in the three months to September of 2019, following a revised 1.8 percent slump in the previous period. It was the third consecutive quarter of contraction, as both household (2.8 percent vs 3.2 percent in Q2) and government spending (4.3 percent vs 6.5 percent) slowed. Meanwhile, gross fixed capital formation dropped at a much softer pace (-8.5 percent vs -26.1 percent). Regarding net trade, totals exports declined 4.5 percent, with services down 4.7 percent (from -0.1 percent in Q2) while exports of goods increased 0.5 percent (from -24.3 percent in Q2). Meantime, total imports went up 1.8 percent. GDP Annual Growth Rate in Macau averaged 8.41 percent from 2002 until 2019, reaching an all time high of 54.30 percent in the second quarter of 2004 and a record low of -24.60 percent in the second quarter of 2015.
GDP Annual Growth Rate in Macau is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macau to stand at 1.80 in 12 months time. In the long-term, the Macau GDP Annual Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.