Economic - Malta Q2 GDP Drops Further

(RTTNews) - Monday, Malta's National Statistics Office said in a report that the gross domestic product or GDP in real terms dropped 3.3% year-on-year in the second quarter, compared to the 1.9% fall in the previous quarter. The second quarter GDP was revised from 2.4% fall reported initially. A year ago, the GDP was up 2.9%.

Malta's GDP decline was mainly due to fall in tourist arrivals and global demand, the statistical office said.

Total final consumption expenditure decreased 1% in the second quarter, while the gross fixed capital formation at constant prices dipped by 26.2%.