BusinessWorld May 10, 2021 | 12:34 am Localized lockdowns have been implemented due to the rising number of coronavirus cases. â PHILIPPINE STAR/ MICHAEL VARCAS PHILIPPINE gross domestic product (GDP) likely declined at a slower pace in the first three months of 2021 compared with the previous quarters, a BusinessWorld poll showed, as a renewed surge in coronavirus infections and a stricter lockdown imposed in Metro Manila and adjacent provinces dampened recovery. A BusinessWorld poll of 18 analysts yielded a median GDP decline of 2.6% for the first quarter, easing from the -8.3% in the fourth quarter of 2020, but still slower than the -0.7% in the first quarter of 2020.