Philippines economy shrinks in third-quarter, govt says 'worst is over'

Topics Philippines | economy


By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) - The Philippine economy shrank by more than expected in the third quarter from a year ago as the COVID-19 pandemic continued to batter the Southeast Asian country but a loosening of coronavirus curbs helped ease the pain. Gross domestic product (GDP) shrank 11.5%, the statistics agency said on Tuesday, after a 16.

9% slump in the second quarter when the economy entered its first recession in nearly 30 years. Economists in a Reuters poll had forecast a 9.8% year-on-year contraction. GDP.....

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