ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Philippines plunges into recession as economy shrinks 16.5% in Q2

Latest lockdown dampens hopes for strong near-term recovery

Jeepney drivers who lost livelihoods amid the coronavirus outbreak look for financial help along a Metro Manila roadside on July 30.   © Reuters

MANILA -- The Philippine economy shrank a record 16.5% in the second quarter, the country's statistics agency said on Thursday, throwing the nation into a technical recession.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more