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Base effect-driven rebound expected in Q2; recovery path uncertain — poll cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
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PH economic slump to soften in Q1 poll enablePagination: false endIndex: Metro Manila (CNN Philippines, May 7) The Philippine economy was estimated to have remained in recession in the first quarter but with a contraction that is milder than three months prior. A CNN Philippines poll among 10 economists showed a forecast range of -4.5% to 2% for the gross domestic product (GDP) from January to March. This yielded an average projection of -2.82%, easing from -8.3% recorded in the last quarter of 2020. GDP measures the country s economic ouput in terms of goods and services in a given year. Market watchers mainly noted efforts to reopen the economy during the period, which ended with the government declaring once again tighter lockdown measures in a bid to curb the alarming spike in COVID-19 cases. ....
endIndex: Metro Manila (CNN Philippines, May 7) The Philippine peso continued its streak and surged to its highest against the dollar in more than four and half years. The currency finished at ₱47.855 at the close of trade on Friday against the greenback, its strongest since its ₱47.83 trading close on Sept. 22, 2016. “It’s hard not to see that the robust export growth and improving import performance in March further strengthened the PHP today,” UnionBank chief economist Ruben Carlo Asuncion told CNN Philippines. Data from the Philippine Statistics Authority published Friday showed exports reached $6.68 billion in March, 31.6% higher than the $5.08 billion year-on-year. The figure also bested February’s $5.35 billion. ....
PH economy to continue decline in Q4, but milder than previous quarter poll enablePagination: false endIndex: Metro Manila (CNN Philippines, January 22) The economy is expected to shrink again in the last three months of 2020, but the plunge seen is still tamer than the quarter prior. A CNN Philippines poll among 10 economists yielded a wide forecast range of 5-12.2% for the forecasted decline for the fourth quarter. This led to an average of -8.31%, milder than the 11.5% contraction logged in the quarter prior as the country continues to reel from the COVID-19 pandemic. Still, the forecast average is a distant cry from the 6.4% expansion logged in the last quarter of 2019, driven by a surge in government and infrastructure spending. ....