The University of Macau’s department of Economics released a report Monday April 27, 2015 regarding macroeconomic forecast data. According to the report the GDP of Macau may shrink as much as 14.7 percent if gaming revenue continues to decline for the rest of 2015. This would put Macau in its biggest recession since 1982.

In a statement economists said, “If the gross gaming revenue continues at MOP 60 billion per quarter” then the GDP is expected to decline 14.7 percent. Data and the forecasts will change when new data is added for the coming quarters. The fluctuations are considered short-term, but it could place the GDP anywhere between a 20.4 percent and 9.4 percent decline.

The new casinos in Macau set to open in the latter part of 2015 may provide a more optimistic outlook. However, economists are basing their numbers on current economic data and willing to adjust numbers as the year continues.