The Philippines' gross domestic product contracted 11.5 percent on year in the third quarter of 2020, the Philippines Statistics Authority said on Tuesday.

That missed expectations for a decline of 9.8 percent following the 16.9 percent contraction in the three months prior.

On a seasonally adjusted quarterly basis, gross domestic product was up 8.0 percent - roughly in line with expectations following the 15.2 percent fall in the previous three months.