Pantheon Macroeconomics

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10th Jun 2022 00:10Emerging Asia, Daily Monitor

The Philippines’ sales data for Q1 were upgraded massively, securing the punchy GDP from revisions.

Catch-up to the pre-Covid level is now definitely over, though, and this shows in the soft April print.

The savings rebuild from the pandemic-era drawdown took a stepback in Q1, risking the recovery.

depreciation gdp growth headline growth q1 q4 sales data savings survey data

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