ASEAN Newspapers- Fri., Aug. 07, 2020- Philippines economy crash-lands into recession
This was the worst quarterly slump on record since the contraction of 10.7 percent in the third quarter of 1984 and 10.5 percent in the first quarter of 1985.
The STAR/Michael Varcas/ Czeriza Valencia
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MANILA, Philippines — The country plunged into a recession in the second quarter of the year, with output contracting by a record 16.5 percent after a months-long government-enforced lockdown paralyzed 75 percent of the economy.
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8.7.2020
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