MANILA (Philippine Daily Inquirer/ANN): While the Philippines may have technically exited from recession in the second quarter, thanks to last year’s low base, the April to June output is expected to have shrunk from previous quarter’s level given the two-week lockdown in April due to a surge in Covid-19 cases, economists said last week.
All 19 economists and financial institutions polled by the Inquirer were expecting the second-quarter gross domestic product (GDP) to have returned to positive territory on a year-on-year basis. Report on second-quarter GDP will be released on Tuesday.
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