Wednesday, May 12, 2021

Tag: Economy

Virus-hit Philippine economy plunges into recession

© Lisa Marie David The Philippine economy has been devastated by virus lockdowns

August 6 (AFP) - The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdowns that have wrecked businesses and thrown millions out of work. Gross domestic product shrank 16.5 percent on-year in the second quarter, the Philippine Statistics Authority said, when the country endured one of the world's ...

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It’s official: U.S. economy entered recession in February

FILE PHOTO: A pedestrian walks on an empty street amid the coronavirus disease (COVID-19) outbreak, in Boston, Massachusetts, U.S., May 12, 2020. REUTERS/Brian Snyder/File Photo

June 9 (Reuters) - The U.S. economy ended its longest expansion in history in February and entered recession as a result of the coronavirus pandemic, the private economics research group that acts as the arbiter for determining U.S. business cycles said on Monday. The Business Cycle Dating Committee of the National Bureau of Economic Research said in a statement its ...

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