Macau's growth slumped to 0.3% in Q2 as investment fell 21.9%

According to preliminary estimates from the Statistics and Census Service of the Macao SAR government published on Friday 31 July 2026, Macau's economy grew just 0.3% year on year in the second quarter of 2026, a sharp slowdown from the first quarter's 7.1% expansion.

Despite the slowdown, the second quarter marked Macau's fifth consecutive quarter of economic growth. Services remained the main engine: exports of services rose 7.2% and visitor arrivals increased 13.9% from a year earlier. Private consumption expenditure also grew steadily, up 2.8%.

The weakness came from investment and the public sector: gross fixed capital formation fell 21.9% and government spending declined 4.8%. Macau's economy is heavily dependent on tourism and mainland Chinese visitors, so its data is treated as one signal of the state of consumption in China.