Economists see slower Q3 GDP contraction

The Philippine economy likely continued to contract in the third quarter of the year but at a slower rate compared to the steep decline in the second quarter, analysts polled by The Manila Times said.

Forecasts for the period ranged from -7.1 to -11.4 percent with a -9.5- percent average, slower than the -16.5 percent in the second quarter and a reversal from the 6-percent expansion in the same period last year.