Economist projects PH growth could slow by 0.3-0.8% due to nCoV

Philippine economic growth could slow down by 0.3% to 0.8% this year if the novel coronavirus outbreak is as severe as the SARS epidemic in 2002-2003.

UnionBank chief economist Ruben Carlo Asuncion projects that trade and tourism will be most affected, with GDP growth potentially declining by up to 0.8% if the situation lasts six months or more.

Southeast Asian economies experienced an average decline of 0.5% during the SARS outbreak which lasted seven months.