Information from the Statistics and Census Service (DSEC) indicated that Gross Domestic Product (GDP) for the second quarter of 2011 expanded by 24.0% in real terms, which was spurred by the increase in exports of services, investment and private consumption expenditure. Exports of gaming services surged by 39.0%, total visitor spending (excluding gaming expenses) increased by 5.9%, investment expanded by 23.1% and private consumption expenditure rose by 11.3%; however, merchandise exports decreased by 8.2%. In the second quarter of 2011, implicit deflator of GDP that reflects changes in overall prices increased by 6.0% year-on-year. For the first half year of 2011, GDP increased by 22.9% in real terms; besides, economic growth for the first quarter of 2011 revised upward from 21.5% to 21.6% in real terms. In view of the continuous rise in total employment and income, together with low unemployment rate, private consumption expenditure rose by 11.3% in the second quarter of 2011, lower than the 13.0% increase in the first quarter. Household final consumption expenditure in the domestic market increased by 7.6%; at the same time, household final consumption expenditure abroad registered an increase of 21.3%, with that in Mainland China amounting to MOP 1.66 billion. Government final consumption expenditure went up by 8.1%, higher than the 1.2% decline in the first quarter, attributable to the 7.2% increase in compensation of employees and 10.2% rise in net purchases of goods and services. Gross fixed capital formation, the gauge of investment, expanded by 23.1%, lower than the 30.8% increase in the first quarter. Private investment grew by 24.4%, with construction investment and equipment investment increasing by 28.7% and 13.8% respectively. Government investment increased by 7.3%, of which construction investment expanded by 20.7%, while equipment investment shrank by 53.2%. Decline in merchandise exports continued, down by 8.2% in the second quarter, widening further from the 7.0% decrease in the first quarter. On the contrary, merchandise imports soared by 26.4%, higher than the 22.4% increase in the first quarter, attributable to the expansion in private consumption, visitor spending and investment. As regards trade in services, rising visitor arrivals and visitor spending supported exports of services to surge by 33.0% in the second quarter, higher than the 30.0% increase in the first quarter. Exports of gaming services expanded by 39.0%, and total visitor spending went up by 5.9%. In addition, imports of services increased by 36.1%, lower than the 38.4% increase in the first quarter.
