Philippines Q2 GDP contraction revised to 16.9 pct, worse than initial estimate | ABS-CBN
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Philippines Q2 GDP contraction revised to 16.9 pct, worse than initial estimate
Philippines Q2 GDP contraction revised to 16.9 pct, worse than initial estimate
Reuters
Published Nov 09, 2020 11:37 AM PHT
|
Updated Nov 05, 2024 10:24 AM PHT
MANILA - The Philippine economy contracted 16.9 percent in the second quarter from a year earlier, worse than the preliminary estimate of a 16.5 percent decline, the statistics agency
said on Monday.
The government will announce the economy's third-quarter performance on Tuesday, with economists expecting an annual contraction of 9.8% based on the median forecast in a Reuters' poll.
MANILA - The Philippine economy contracted 16.9 percent in the second quarter from a year earlier, worse than the preliminary estimate of a 16.5 percent decline, the statistics agency
said on Monday.
The government will announce the economy's third-quarter performance on Tuesday, with economists expecting an annual contraction of 9.8% based on the median forecast in a Reuters' poll.
The economy fell into recession for the first time in 29 years with a record contraction in the second quarter, as coronavirus lockdown measures hit consumption and business activity.
The economy fell into recession for the first time in 29 years with a record contraction in the second quarter, as coronavirus lockdown measures hit consumption and business activity.
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