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Philippines GDP shrinks 8.3% y/y in Q4

Published 01/28/2021, 10:07 AM
Updated 01/28/2021, 10:10 AM
© Reuters.

MANILA, Jan 28 (Reuters) - The Philippine economy contracted
by slightly less than expected in the last quarter of 2020,
official data showed on Thursday, helped by increased spending
around the Christmas holidays.
The gross domestic product shrank 8.3% in the December
quarter from a year earlier PHGDP=ECI , the statistics agency
said. Economists in a Reuters poll had expected the economy to
shrink 8.5% after a revised 11.4% fall year-on-year in the third
quarter.


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