This, together with the sustained implementation of targeted fiscal stimulus, should help boost market confidence and recovery of the economy in the coming months. After five consecutive quarters of economic contractions, the Philippine economy grew by 11.8 percent, from a 17.0 percent decline in Q2 2020. Almost all sectors and expenditure segments of the economy bounced back during the quarter.
First is the so-called “chronic symptom” and strong downward pressure would continue  BIS Review 100/2010  1  to be put on financial markets and the economy until there appear prospects for balancesheet adjustments to complete. The other is a sudden change in conditions triggered by some factors.