GDP contraction seen at 11% in Q3

Aug 31, 2020 12:15 am

The contraction of the Philippine economy is likely to remain in double-digit in the third quarter of the year on the back of continued lockdowns and subdued consumer spending, according to HSBC.

In a report released late last week, the banking giant estimated an 11.1-percent fall in the gross domestic product (GDP) in July to September this year.

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