Macau GDP tumbles; pawn shops still processing bogus UnionPay transactions

Macau’s gross domestic product fell more than one-quarter in Q2 as the special administrative region’s casino-based economy continues to struggle.

Figures released Monday by Macau’s government showed GDP falling 26.4% in the three months ending June 30, a worse result than Q1’s 24.5% decline. That puts Macau’s economic output at a low not seen since early 2011.

The numbers come one day before Macau releases its August casino gaming revenue figures, which analysts expect to be down around 38% from the same month last year. That would reverse a recent trend during the current 14-month revenue slide that appeared to indicate a slowing pace of monthly declines.

MACAU’S PAWN SHOPS ARE HERE TO HELP