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affecting millions of households nationwide as well as overseas filipinos the common active impact of this event of on the economy has been broad-based teeth and deep health helping investment activity and leading to the lowest consumption growth in three decades​

Sagot :

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Answer:

Affecting millions of households nationwide as well as overseas Filipinos, the cumulative impact of these events on the economy has been broad-based, steep, and deep, halting investment activity, and leading to the lowest consumption growth in three decades. Private consumption growth fell to 0.2 percent in the first quarter of 2020 from 6.2 percent last year. The hotel and restaurant industry suffered the most, contracting by 15.4 percent.

The economic contraction in 2020 will likely cause an increase in poverty. Containment measures have cut off income streams from seasonal wage earners and those engaged in entrepreneurial activities in non-agricultural activities and low-end service jobs, which were the drivers of poverty reduction in recent years.

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