The Philippines posted its worst economic performance on record last year after the coronavirus pandemic crippled consumer spending and business activity.
Philippine Economy Contracts At Fastest Pace Since 1946 forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.
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(File) January 28, 2021 AFTER posting the highest number of coronavirus infections in nearly three months, the Department of Health (DOH) reported fewer cases on Thursday, January 28, 2021, although these still exceeded 1,000.
In its case bulletin issued at 4 p.m. Thursday, the DOH confirmed 1,169 new cases, which increased the total case count to 519,575.
Deaths from coronavirus disease 2019 (Covid-19) continued to accelerate, with 71 additional mortalities counted on Thursday to bring the death toll to 10,552.
The case fatality rate (CFR) continued to increase, hitting 2.03 percent.
Officials earlier attributed the steady increase in the CFR to efforts to harmonize DOH’s mortality data with those of the Philippine Statistics Authority (PSA).
Xinhua Asia-Pacific news summary at 1600 GMT, Jan 28 centralasiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from centralasiatimes.com Daily Mail and Mail on Sunday newspapers.
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SunStar File Photo January 28, 2021 THE Philippines’ gross domestic product (GDP) has declined by 8.3 percent in the last quarter of 2020, bringing the annual growth rate down by 9.5 percent, the Philippine Statistics Authority (PSA) announced Thursday, Jan. 28, 2021.
This is worse than the 7.3 percent contraction in 1984-1985, when political unrest led to a recession and the 0.5 percent decline in 1998 due to the Asian financial crisis.
However, the PSA said the country’s GDP posted a quarter-on-quarter growth of 5.6 percent in the fourth quarter, after shrinking by 11.5 percent in the third quarter and by 16.9 percent in the second quarter.
The -16.9 percent growth in the second quarter was the lowest recorded quarterly growth starting the 1981 series.