Home  >  Business

'Worst is over,' Palace says after economy shrinks in third quarter

ABS-CBN News

Posted at Nov 10 2020 03:15 PM

Watch also in iWantTFC

Malacañang said Tuesday the worst was "over" after the Philippine economy shrank for the third straight quarter (July-September) with the lingering COVID-19 pandemic. 

Presidential Spokesperson Harry Roque said the economic contraction was due to the temporary return to stricter lockdown of several neighboring provinces, which account for about a third of the gross domestic product.

Watch part of his press briefing here. 
Read More:  Malacañang   Palace   Harry Roque   coronavirus   COVID-19   coronavirus worldometer   coronavirus deaths   coronavirus cases   coronavirus how many   coronavirus updates   COVID-19 updates   pandemic   COVID   COVID latest   coronavirus latest   Philippines coronavirus   Philippines news   GDP 2020   third quarter GDP   economic growth   recession   PSA   Philippine Statistics Authority