Economic recovery 'not smooth'—DOF – Manila Bulletin

Published December 28, 2020, 5:30 AM
The Department of Finance (DOF) said the country’s economic recovery is “not smooth” due to continued restrictions that dampened consumer and investor sentiment.
In his latest economic bulletin, Finance Undersecretary and Chief Economist Gil S. Beltran explained that consumers and investors will be hesitant about spending as long as movement restrictions are in place.
Finance Undersecretary Gil S. Beltran
Citing recent data on merchandise trade and manufacturing purchasing managers’ index (PMI), Beltran noted that the country’s economic recovery is “not smooth” based on August, September and October indicators.
Total merchandise trade declined at a much slower pace in September at 8.2 percent from 17.9 percent in August. However, it failed to sustain this downward trend after it deepened again to 12.8 percent in October.

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