In brief
The Philippine economy's 2.1% expansion in Q3 2026, announced by the Philippine Statistics Authority, follows a 2.4% rise in Q2 and reflects a fifth straight quarter of slowing growth. Growth from January to September stood at 2.5%, falling short of the government’s 3.5%‑4.5% full-year target, while a median forecast of 2.8% from 14 economists was also missed. Weak government spending, domestic demand, a corruption scandal, and regional tensions were cited as contributing factors.
The Philippine economy grew 2.1% in the third quarter of 2026, a decline from 2.4% in the preceding quarter, Philippine Statistics Authority (PSA) officials reported Monday, marking the fifth consecutive quarter of slowing growth.
The PSA noted that growth from January through September had totaled 2.5%, less than the 3.5%‑4.5% full‑year target set by the Philippine government.
According to a report in Xinhua, the slowdown was attributed to weakened government spending and domestic demand, which were held back by a corruption scandal and the Middle East conflict, as cited by the local media outlet Inquirer.net.
A survey of 14 economists by Inquirer.net yielded a median forecast of 2.8% for the quarter, which the actual expansion fell 14% below.
