The Philippines’ better-than-expected external trade, manufacturing and net sales performance in April despite stricter quarantine in National Capital Region (NCR) Plus would allow a bigger output in the second quarter than the first quarter, UK-based Pantheon Macroeconomics said on Thursday.
“The Philippine economy looks to have miraculously survived the second wave of COVID-19 without any major scars,” Pantheon Macroeconomics senior Asia economist Miguel Chanco said in a report titled “The Philippines Won the Covid Battle—Not the War—in Q2.”
“On our adjustment, the volume of net sales index for April—when cases peaked and antivirus measures were at their toughest—fell by …
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