The economy will likely continue to shrink in the first quarter of the year but at a much slower pace compared to the levels last year, and a turnaround in the subsequent quarters will lead to a full-year growth of 6.5 to 7.5 percent.
This was according to Barcelona-based FocusEconomics and Bank of the Philippine Islands lead economist Emilio Neri Jr.
Citing consensus forecast of 30 economic analysts, FocusEconomics said the country’s gross domestic product (GDP) would likely contract by 1.3 percent in the first quarter of the year. Neri, for his part, expects the first-quarter GDP to decline by 2 percent.
Coming from a low base, the second-quarter GDP is expected to post a doub…
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