recession-coronavirus | ABS-CBN News

Gov't banks on 'ber' months to ease economic woes

ABS-CBN News
Posted at Oct 15 04:19 PM

The government hopes that retail spending in the last quarter of the year can boost the pandemic-battered economy, Malacañang said Thursday.    Read more »

Japan's economy shrank 7.9 percent in the second quarter, more than estimated

Agence France-Presse
Posted at Sep 08 10:41 AM

Japan's economy shrank slightly more than initially thought in the April-June quarter, official data released Tuesday showed, deepening a contraction that was already the worst in the nation's modern history. Read more »

Duterte expected to sign Bayanihan 2 into law until next week: Palace

Arianne Merez, ABS-CBN News
Posted at Sep 07 02:57 PM

Just like the first Bayanihan law, the proposed Bayanihan 2 allows the President to realign funds for pandemic-related expenses. Read more »

India’s economy shrank nearly 24 pct last quarter

Sameer Yasir and Jeffrey Gettleman, The New York Times
Posted at Sep 01 06:39 AM

The Indian economy contracted by 23.9 percent in the second quarter, the most drastic fall in decades, as lockdown restrictions meant to contain the spread of the coronavirus wiped out jobs and businesses.  Read more »

Japan economy shrinks historic 7.8 percent in second quarter

Agence France-Presse
Updated as of Aug 17 08:44 AM

Japan's economy shrank a historic 7.8 percent in the April-June quarter, the worst contraction in the nation's modern history, as the coronavirus deepens economic woes.  Read more »

Global economies, companies hit hard as coronavirus cases top 17 million

Agence France-Presse
Posted at Jul 31 12:15 AM

Economies from Europe to the United States on Thursday reported record slumps and companies from banks to car makers warned of losses in the latest fallout from the pandemic that has infected more than 17 million people across the globe. Read more »

Virus-hit Singapore plunges into recession

Agence France-Presse
Posted at Jul 14 09:36 AM

Singapore plunged into recession in the second quarter as growth fell 41.2 percent quarter-on-quarter with the trade-dependent economy hammered by the coronavirus, preliminary data showed Tuesday.   Read more »

US weekly jobless claims remain high as second wave of layoffs hits industries

Lucia Mutikani, Reuters
Posted at Jun 18 09:09 PM

A second wave of layoffs amid weak demand and fractured supply chains is keeping new US applications for unemployment benefits elevated, supporting views that the economy faces a long and difficult recovery from the COVID-19 recession. Read more »

Japan's Q1 GDP shrinks less than expected, faces steep recession

Kaori Kaneko, Reuters
Posted at Jun 08 09:10 AM

Japan's economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession. Read more »

Unemployment jump to show lockdown toll on Philippines: economist

ABS-CBN News
Updated as of Jun 04 10:24 AM

Unemployment likely soared during the virus lockdown, an economist said Thursday on the eve of the official data release, as the Philippines started easing restrictions. Read more »

Debt relief for poorest countries could extend beyond 2020, G7 says

Andrea Shalal, Reuters
Posted at Jun 04 08:27 AM

Group of Seven finance ministers on Wednesday said a debt relief initiative for the world's poorest countries could be extended beyond the end of the year to help deal with economic fallout from the coronavirus pandemic. Read more »