Philippine economy shrinks by more than expected in Q3, govt says "worst is over"

The Philippines imposed one of the world's longest and strictest lockdowns earlier this year as it was hard hit by the coronavirus, tipping the economy into its first recession in nearly 30 years in the April-June period. - AP -

MANILA (Reuters): The Philippine economy shrank by more than expected on an annual basis in the third quarter due to the COVID-19 pandemic, official data showed on Tuesday (Nov 10, but the fallout eased after the government gradually lifted coronavirus restrictions.

The Philippines imposed one of the world's longest and strictest lockdowns earlier this year as it was hard hit by the coronavirus, tipping the economy into its first recession in nearly 30 years in the April-June period.