Technical recession seen for PH

Sep 01, 2023 12:26 am

The Philippine economy could undergo a mild technical recession this year, Pantheon Macroeconomics said on Wednesday as it projected full-year growth to markedly slow to 4.5 percent from 7.6 percent in 2023.

The second quarter slowdown to 4.3 percent, well below the consensus forecast of 6.3 percent, was described as a 'disaster'.

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