MANILA, Philippines—The Philippines’ unexpected improvement in external trade, manufacturing and net sales performance last April despite a new round of lockdowns could lead to a bigger output in the second quarter of 2021 and avert a “double-dip” recession, according to a UK think tank on Thursday (June 10).
“The Philippine economy looks miraculously to have survived the second wave of COVID-19 without any major scars,” said Miguel Chanco, senior Asia economist of UK-based Pantheon Macroeconomics, in a report.
In his report, titled “The Philippines Won the Covid Battle—Not the War—in Q2,” Chanco said “better-than-expected external trade, manufacturing and net sales performan…
Keep on reading: UK think tank: Unexpected trade, manufacturing gains averted ‘double-dip’ Q2 recession