The Philippine economy shrank more than what was expected annually in the third quarter due to the COVID-19 pandemic, based on the official data showed last Tuesday. This fallout eased after the government gradually lifted coronavirus restrictions. The country’s economy fell into its first recession in nearly 30 years in the April-June period, when the Philippines imposed one of the …

In the third quarter, Indonesia experienced its first downturn in more than two decades and millions of people lost their jobs over the past year as the Covid-19 pandemic ravaged the largest economy in Southeast Asia. As household consumption dropped while spending also fell in the third quarter, official statistics shows, the gross domestic product ( GDP) shrank by a …

The Indian economy, which contracted 23.9 percent in the first quarter of this year on the back of astringent lockdown that resulted in job losses and consumption fell, is in even greater trouble, the latest growth figures showed.Analysts say there is a need for a fresh stimulus package to drive growth in the Indian economy once the world’s fastest growing …

Growth in the Asean bloc is expected to bounce back to an average of 8% in 2021 through the Chinese import demand and global trade, a Oxford Economics and commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW) report suggested on Monday. Asean has into recession in the first part of 2020 before recording a 1.9 per …

It has been a concern on the country about the status of the economy as everyone is battling with the pandemic virus. The different businesses are reviewing the posibilities of what will happen for the upcoming months. Development in Malaysia’s gross domestic product (GDP) is forecast to ease from 3.6 percent in Q4 2019 to an annual average of 2.2 …