• Philippines growth drops by 4.2% in Q1

    The Philippine economy dropped by more than expected in the first three months of the year, but analysts see signs of recovery. According to a Reuters report, the country’s GDP dropped by 4.2% in Q1 from a year earlier, worse than the median estimate of a 3% contraction given in a Reuters’ survey. Sequential momentum, however, showed a recovery was underway and suggested the central bank will keep rates at a record low at this week’s policy review to support the revival. Output rose by 0.3% from the previous three months on seasonally…

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