This Philippines monthly economic developments newsletter for the Month of August 2020 includes the following information: (i) The Philippine economy plunged into a recession as private consumption and investment contracted sharply in the first half of 2020 as a result of the Coronavirus (COVID-19) pandemic and quarantine measures; (ii) Monetary policy remained supportive of growth while public spending further accelerated in June; and (iii) There were emerging signs of improvement in economic activities in June with smaller contractions in the manufacturing sector and merchandise trade.
Details
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Author
Qian,Rong, Chua,Kevin C., Cruz,Kevin Thomas Garcia, Enriquez,Karen Annette Lazaro, Song,Jiyoung, Endo,Isaku
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Document Date
2020/08/01
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Document Type
Newsletter
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Report Number
151946
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2020/08/20
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Disclosure Status
Disclosed
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Doc Name
Philippines Monthly Economic Developments (August 2020)
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Keywords
inflation; domestic liquidity; private consumption; manufacturing sector; household final consumption expenditure; average capacity utilization; Government Owned and Controlled; credit growth; core inflation; import good; monthly data; fiscal balance; public transport service; capacity utilization rate; stock exchange index; local stock exchange; demand for credit; balance of payment; current account balance; export of goods; commercial bank loan; nominal exchange rate; business confidence index; import of goods
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Citation
Qian,Rong Chua,Kevin C. Cruz,Kevin Thomas Garcia Enriquez,Karen Annette Lazaro Song,Jiyoung Endo,Isaku
Philippines Monthly Economic Developments (August 2020) (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/763591597913058477/Philippines-Monthly-Economic-Developments-August-2020