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economic growth

Corona in Manila
Corona in Manila

KONTAN.CO.ID - MANILA. The Philippine economy plunged by much more than expected in the second quarter, falling into recession for the first time in 29 years, as economic activity was hammered by one of the world's longest and strictest coronavirus lockdowns.

The Southeast Asian nation's economy shrank by 16.5% in April-June from the same period last year - the biggest slump in the government's quarterly GDP data dating back to 1981, the Philippine Statistics Authority said on Thursday.

Baca Juga: Masuk resesi, ekonomi Filipina kontraksi 16,5% di kuartal II-2020

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