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Economy

Philippines and Malaysia log GDP falls as COVID waves blur outlook

Manila reports 4.2% contraction while neighbor's decline slows to 0.5%

Local officials stand near a community quarantine checkpoint in Metro Manila in February. Surging coronavirus cases prompted further lockdown measures.   © Reuters

MANILA/KUALA LUMPUR -- The Philippine economy contracted by 4.2% on the year in the January-March period, extending its recession to a fifth straight quarter, while Malaysia's shrank 0.5% as both countries battle waves of COVID-19.

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