The negative contribution came from net exports, as well as lower private sector investment, signalled by a dip in imports of equipment and reduced construction activity, and adverse weather conditions. Conversely, an upturn in retail trade points to a positive, though modest, contribution of household consumption to economic activity.
As of May 31 2020, PESONet has 58 participating institutions while InstaPay has 45. The number of participating institutions for both are expected to further increase in the coming years.