Philippine Economy Dives Into Recession In Worst Slump On Record



(CNA) – The Philippine economy plunged by much more than expected in the second quarter, falling into recession for the first time in 29 years, as economic activity was hammered by one of the world’s longest and strictest coronavirus lockdowns.
The Southeast Asian nation’s economy shrank by 16.5 per cent in the April to June quarter from the same period last year – the biggest slump in the government’s quarterly GDP data dating back to 1981, the Philippine Statistics Authority said on Thursday (Aug 6).
Gross domestic product fell by much more than the 9 per cent contraction forecast in a Reuters poll and was worse than a revised slump of 0.7 per cent in the first quarter. Seasonally adjusted GDP fell 15.2 per cent in the second quarter from the first three months of the year.
The economic hit from the pandemic could worsen with the government reimposing tighter quarantine controls in the capital Manila and nearby provinces for two weeks from Tuesday amid resurging coronavirus cases.
“The Philippine economy crash-landed into recession with the 2Q GDP meltdown showcasing the destructive impact of lockdowns on the consumption-dependent economy,” said ING senior economist Nicholas Antonio Mapa.
“With record-high unemployment expected to climb in the coming months, we do not expect a quick turnaround in consumption behaviour, all the more with COVID-19 cases still on the rise.”
The Philippines main share index showed little reaction to the data.
Some businesses have been ordered shut and movement restricted again in Manila and nearby provinces, which accounts for a quarter of the country’s population and most of its economic activity.
The Philippines recorded 115,980 confirmed infections as of Wednesday, just behind Indonesia’s 116,871 cases, which is the highest in East Asia.
With inflation expected to remain subdued throughout the year, the central bank has room for further policy easing if needed, analysts say.
It has slashed the benchmark interest rate by a total of 175 basis points this year to a record-low of 2.25 per cent.
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2020/08/06/philippine-economy-dives-into-recession-in-worst-slump-on-record/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Dr Chin Individuals Referred To Hospitals But Not Taken Into Account As Sdmc Cases Part Of Precautionary Measures

Dr Chin Individuals Referred To Hospitals But Not Taken Into Account As Sdmc Cases Part Of Precautionary Measures

papar berkaitan - pada 1/8/2020 - jumlah : 369 hits
Dr Chin Zin Hing KUCHING State Health Department is aware of complaints that individuals who have been referred and admitted to hospital as well as associated with positive Covid 19 cases were not taken into account as a case reported to th...
News Ji Chang Wook Transformed Into A Part Time Convenience Store Worker

News Ji Chang Wook Transformed Into A Part Time Convenience Store Worker

papar berkaitan - pada 4/8/2020 - jumlah : 392 hits
On 3 August 2020 actor Ji Chang Wook was shown holding a daily part time job at a convenience store for a special promotional event Ji Chang Wook was spotted working as a daily part time worker at a GS25 convenience store near its headquart...
New Party Dr M To Look Into Anwar S Remark On Joining Harapan

New Party Dr M To Look Into Anwar S Remark On Joining Harapan

papar berkaitan - pada 9/8/2020 - jumlah : 253 hits
Dr Mahathir Mohamad said he does not know about Pakatan Harapan chairperson Anwar Ibrahim saying they were ready to work with Mahathir s in the coalition However the former prime minister said he would look into Anwar s I do not know what h...
Philippines Now Has Worst Covid 19 Outbreak In Southeast Asia

Philippines Now Has Worst Covid 19 Outbreak In Southeast Asia

papar berkaitan - pada 8/8/2020 - jumlah : 187 hits
Despite imposing the longest strictest lockdown in Southeast Asia coronavirus cases in the Philippines have now surged to almost 120 000 eclipsing Indonesia to become the region s biggest outbreak The country re imposed this week a second l...
Worst May Be Over For Seaport Operators Analysts Positive On Westports Growth Prospects

Worst May Be Over For Seaport Operators Analysts Positive On Westports Growth Prospects

papar berkaitan - pada 28/7/2020 - jumlah : 235 hits
Analysts say the worst may be over for seaport operators as economies businesses and borders reopen translating to a recovery in global trade and hence improvement in seaports throughput KUCHING Westports Holdings Bhd s prospects have be
Record Of Youth Pamerkan Kisah Romantis Diantara Park Bo Gum Dab Park So Dam

Record Of Youth Pamerkan Kisah Romantis Diantara Park Bo Gum Dab Park So Dam

papar berkaitan - pada 4/8/2020 - jumlah : 194 hits
Park Bo gum dan Park So dam akan menyajikan percintaan yang mengasyikkan dalam Record of Youth yang akan ditayangkan secara eksklusif di Netflix pada 7 September Teaser terbaru menunjukkan cinta yang berkembang diantara Sa Hye jun dan An Je...
Berkaca Dari Track Record Satyo Purwanto Tidak Ragu Rr Bisa Beresi Ekonomi Setahun

Berkaca Dari Track Record Satyo Purwanto Tidak Ragu Rr Bisa Beresi Ekonomi Setahun

papar berkaitan - pada 11/8/2020 - jumlah : 196 hits
Pernyataan ekonom senior DR Rizal Ramli yang bisa membereskan ekonomi Indonesia dalam setahun tidak boleh dipandang sebelah mata Direktur Eksekutif Oversight of Indonesia s Democratic Policy Satyo Purwanto menegaskan bahwa Rizal Ramli mempu...
Mara Chair Urges Investigation Into Melbourne Corruption Allegations

Mara Chair Urges Investigation Into Melbourne Corruption Allegations

papar berkaitan - pada 9/8/2020 - jumlah : 260 hits
Majlis Amanah Rakyat has called on all parties to allow room for an investigation into corruption allegations in the sale of property in Melbourne to Mara Incorporated Sdn Bhd in 2013 This comes after Boon Lye Teen also known as Dennis Teen...
How Do I Deposit Usd Into Bittrex

How Do I Deposit Usd Into Bittrex

papar berkaitan - pada 10/8/2020 - jumlah : 313 hits
The one benefit Bittrex has over Poloniex is that Bittrex has by no means been hacked whereas Poloniex has been hacked The Poloniex security staff learned bitrex review from that incident nonetheless and the change
Let S Not Return To The Old Ways Of Tight Media Control

Air Terjun Tujuh Puteri Bukit Sri Permata

Bank Islam Berwajah Baru Melalui Aplikasi Dan Web

Company Director Scammed Of Over Rm1mil By Inspector Harun

How To Survive Thanksgiving Travel

O G Firm Right To Dismiss Worker For Refusing Covid 19 Jab Says Industrial Court

Resipi Cheese Tart

Dayang Nurfaizah Mencintai Cinta Chord


echo '';
Senarai Lagu Tugasan Konsert Minggu 1 Gegar Vaganza 2024 Musim 11

Info Dan Sinopsis Drama Berepisod Dhia Kasyrani Slot Akasia TV3

Biodata Terkini Reshmonu Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Hey Waley

Gegar Vaganza 2024 GV 11 Hadiah Tiket Peserta Juri Format Pemarkahan Dan Segala Info Tonton Live Di Astro Ria Dan Sooka

6 Janji Donald Trump Kalau Dia Naik Jadi Presiden Semula


Apabila Wanita Tertinggi Dan Paling Pendek Bertemu

Seorang Sahaja Zul Ariffin Tersasul Doa Minta 4 Isteri

Isu Artis Mangsa Buli Syafiq Yusof Gesa Produksi Main Peranan Perlu Wujudkan Suasana Friendly

Kathryn And Sydney S Fantastic Pantyhose Adventure Part One

15 Creative Diy Fall Garlands To Spruce Up Your Autumn D Cor

Rare Footage Of Fish Rescuing Friend From Snake Catches Netizens Attention