PH 2020 economy worse than initially reported
enablePagination: false
endIndex:
Metro Manila (CNN Philippines, April 8) The Philippine economy contracted worse than initially reported last year, revised estimates released Thursday by the Philippine Statistics Authority showed.
In a statement, the PSA said the growth rate in 2020 shrank by 9.6%, slightly more than the -9.5% reported in January.
The drop in the fourth-quarter gross domestic product, meanwhile, was kept at -8.3%, the revised calculations said. Revisions on the estimates are based on the updated data submissions/releases by the data source agencies, the PSA added.
The revised GDP estimates came ahead of the PSA announcement of the 2021 first quarter economic performance on May 11.
PH 2020 economy worse than initially reported 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.