Economy shrinks for first time since 2014 on virus
The country’s economy contracted in the first quarter for the first time since 2014 as the coronavirus outbreak cut off tourist arrivals and shuttered commerce.
Gross domestic product shrank 1.8% from a year ago, the National Economic and Social Development Council (NESDC) said on Monday. That’s the first contraction since early 2014, according to previously published data. The median estimate in a Bloomberg survey of economists was for GDP to shrink 3.9% last quarter.
