Think tank thinks economy will shrink more slowly

The Bank of China Macau Youth Association forecasts that the rate of contraction of Macau’s economy will slow in the second and third quarters of this year. The think tank predicts gross domestic product will be 16.4 per cent smaller in the second quarter than a year earlier and 9.1 per cent smaller in the third quarter as the slump in the dominant gaming industry persists. Official data show first-quarter GDP was by 24.5 per cent smaller this year than last year.