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Fitch Solutions downgrades PH growth outlook

ABS-CBN News
Updated as of Aug 14 11:19 PM

Fitch Solutions on Thursday downgraded its growth forecast for the Philippines to 4.2 percent from an earlier outlook of 5.3 percent saying the country continues to struggle amid new COVID-19 outbreaks Read more »

Philippine economy grows 11.8 percent in Q2

ABS-CBN News
Updated as of Aug 10 03:14 PM

The Philippine economy emerged from recession after its gross domestic product grew by 11.8 percent in the second quarter, the state statistics bureau said Monday. Read more »

France fell into recession in Q1, revised GDP data shows

Reuters
Posted at May 28 03:26 PM

France, the euro zone's second biggest economy, fell into recession in the first quarter of 2021 with a 0.1 percent contraction, revised official data showed on Friday.   Read more »

China's Q4 GDP growth beats forecast after COVID-19 shock

Reuters
Posted at Jan 18 11:23 AM

China's economy grew at a faster-than-expected pace in the fourth quarter of last year, ending a rough coronavirus-striken 2020 in remarkably good shape and remained solidly poised to expand further this year. Read more »

Bangko Sentral sees solid rebound for pandemic-hit economy

ABS-CBN News
Updated as of Jan 12 03:31 PM

The worst is over for the pandemic-hit Philippine economy, and a "remarkable rebound" is expected this year, the head of the Bangko Sentral ng Pilipinas said on Tuesday. Read more »

World Bank sees worse contraction for PH economy due to virus, typhoons

Bruce Rodriguez, ABS-CBN News
Posted at Dec 08 07:21 PM

The multilateral lender said, the Philippine economy will likely shrink by 8.1 percent this year, which is worse than its already downgraded forecast of 6.9 percent issued in October. Read more »

Japan’s economy surges, but the comeback may not last

Ben Dooley and Hisako Ueno, The New York Times
Posted at Nov 16 12:23 PM

Japan became the latest major economy to bounce back from the devastation of the coronavirus, as lockdowns eased and pent-up demand led to surging domestic consumption and a rebound in exports. Read more »

Singapore's economy shrinks at slower pace as virus curbs eased

Agence France-Presse
Posted at Oct 14 10:06 AM

Singapore's coronavirus-hit economy shrank at a slower pace in the third quarter as restrictions were eased, official data showed Wednesday, but the trade-reliant city-state still faces a long road to recovery. Read more »

'Lack of confidence' in COVID-19 plan, PhilHealth 'corruption' deter PH economic recovery: senators

Katrina Domingo, Robert Mano and Sherrie Ann Torres, ABS-CBN News
Updated as of Aug 06 02:46 PM

Several senators on Thursday said the public's "lack of confidence" in the government's strategy against the coronavirus disease 2019 (COVID-19) and corruption allegations in the state-run insurance firm may impede the Philippines' economic recovery.   Read more »

EU leaders agree landmark 750 billion euro recovery deal

Alex Pigman, Agence France-Presse
Posted at Jul 21 01:00 PM

EU leaders on Tuesday approved a landmark stimulus package to fight the withering aftershocks of the coronavirus outbreak that has sunk Europe into its deepest recession in history.   Read more »

Singapore sinks into recession due to COVID-19

Martin Abbugao, Agence France-Presse
Posted at Jul 15 09:52 PM

The 41.2 percent quarter-on-quarter drop was the worst ever recorded in the city-state, which is considered a barometer for the health of global trade.  Read more »

IMF predicts worst Mideast downturn in half century

Omar Hasan, Agence France-Presse
Posted at Jul 13 09:39 PM

The IMF Monday again sharply lowered its Middle East and North Africa economic forecast, to its lowest level in 50 years, over the "twin shock" of the coronavirus pandemic and low oil prices. Read more »

Eurozone economy to crash 8.7 percent in 2020: EU forecast

Agence France-Presse
Posted at Jul 07 07:58 PM

The eurozone economy will plunge 8.7 percent in 2020 due to the coronavirus crisis, the European Commission said Tuesday in more pessimistic forecasts that do not see a complete rebound next year.   Read more »

What Google mobility data say about Filipinos amid COVID-19 pandemic

Warren de Guzman and Edson Guido, ABS-CBN Data Analytics
Updated as of Jul 01 10:18 AM

Government has started to ease quarantine restrictions in Metro Manila and Luzon. But Filipinos still appear reluctant to leave the safety of their homes. This suggests an economic recovery by the third quarter might be too much to hope for. Read more »

Business Mentor: Building a startup during a recession

Armando Bartolome
Posted at Jun 06 09:02 AM

We are capable of rebuilding our lives and need to take advantage of every opportunity for the sake of our family. Read more »

French economy to shrink 11 percent this year: minister

Agence France-Presse
Posted at Jun 02 08:19 PM

The French economy is expected to shrink 11 percent this year because of the coronavirus crisis, a "brutal" shock and worse than the government's previous forecast of an eight percent contraction, Finance Minister Bruno Le Maire said Tuesday.   Read more »

COVID-19 pushes Germany into recession

Florian Cazeres, Agence France-Presse
Posted at May 15 09:51 PM

The coronavirus pandemic has tipped Germany into a recession, official data showed Friday, with Europe's top economy suffering its steepest quarterly contraction in more than a decade as lockdown measures began to bite. Read more »

World stocks slump on Fed comments, fears of second coronavirus wave

Agence France-Presse
Posted at May 14 07:51 AM

Fears of a second coronavirus wave and downbeat comments by the head of the US Federal Reserve helped push stocks lower on Wednesday. Read more »

EU economy faces historic recession as China and US spar over virus origins

Alex Pigman with Femke Colborne in Berlin and AFP bureaus
Posted at May 06 10:43 PM

The EU on Wednesday forecast a historic recession on the continent battered by the deadly coronavirus pandemic, as the US and China escalated their war of words over the origins of the disease.   Read more »

Hong Kong economy shrinks record 8.9 percent in first quarter

Agence France-Presse
Posted at May 04 09:38 PM

Hong Kong suffered its worst quarterly contraction since modern records began, official figures showed Monday, as the coronavirus outbreak hammered an economy already mired in recession from political unrest and trade war woes. Read more »