Macau casino revenue growth slows to 7.3% yoy in May1 June, 2012, 14:34. Posted by Zarathustra
On top of the already poor macro data from China that everyone watches, alternative indirect gauges of the Chinese economy, like electricity output, are clearly showing that the Chinese economy is close to hard landing, if not already so.
We have previously mentioned another indirect gauge: Macau gaming revenue. The latest data shows that Macau gaming revenue year-on-year growth has fallen to 7.3% in May, down from 21.9% yoy growth in April.
The updated chart below shows the Macau gaming revenue growth and its correlation with China’s GDP growth. This growth figure is the slowest since July 2009.
Source: Gaming Inspection and Coordination Bureau, Statistics and Census Service, National Bureau of Statistics