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.
Economy
Philippines plunges into recession as economy shrinks 16.5% in Q2
Latest lockdown dampens hopes for strong near-term recovery
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Jeepney drivers who lost livelihoods amid the coronavirus outbreak look for financial help along a Metro Manila roadside on July 30. © Reuters
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