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Gross domestic product for the 4th Quarter and the whole year of 2017
Information from the Statistics and Census Service (DSEC) indicated that Gross Domestic Product (GDP) in the fourth quarter of 2017 benefited from the uptrend in exports of services and expanded by 8.0% year-on-year in real terms, higher than the 6.3% growth in the third quarter. External demand remained robust; the on-going considerable growth in the tourism and gaming industry drove up exports of services by 15.7% year-on-year, of which exports of gaming services and other tourism services grew by 16.3% and 15.4% respectively. The decline in investment persisted but narrowed, contracting by 14.2% year-on-year, whereas private consumption expenditure and government final consumption expenditure expanded by 2.7% and 5.1% respectively. The implicit deflator of GDP, which measures the overall changes in prices, went up by 3.4% year-on-year in the fourth quarter of 2017. The economic growth rates for the first, second and third quarters of 2017 were revised upwards to 11.5%, 11.0% and 6.3% respectively.
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Turning phone into charger UM receives Takuo Sugano Award for Outstanding Far-East Paper at ‘Chip Olympics’
The University of Macau (UM) State Key Laboratory of Analog and Mixed-Signal VLSI (AMS-VLSI) has achieved another breakthrough. The team has designed an innovative microelectronics chip, which can turn a wireless power receiver into a wireless power transmitter without additional hardware support. The paper received the 2017 Takuo Sugano Award for Outstanding Far-East Paper at the Institute of Electrical and Electronics Engineers (IEEE) 65th International Solid-State Circuits Conference (ISSCC), commonly known as the ‘Chip Olympics’.
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Employment survey for November 2017 – January 2018
Information from the Statistics and Census Service (DSEC) indicated that both the general unemployment rate (1.8%) and the unemployment rate of local residents (2.4%) dropped by 0.1 percentage point from the previous period (October-December 2017). Meanwhile, the underemployment rate was 0.4%, up by 0.1 percentage point.
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MICE statistics for the 4th quarter of 2017
Information from the Statistics and Census Service (DSEC) indicated that a total of 378 MICE events were held in the fourth quarter of 2017, including 354 meetings & conferences, 18 exhibitions and 6 incentives. Total number of participants and attendees was 694,000.
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Government approves extension of horse race concession
The Government has approved an extension of the city’s horse racing concession for a period of 24 years and six months, said today the Secretary for Economy and Finance, Mr Leong Vai Tac.
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