In brief
The Philippine economy grew 2.1% in the third quarter of 2026, the lowest rate for five straight quarters. Growth was hampered by weak government spending and domestic demand, amid a corruption scandal and the Middle East conflict. The figure fell short of the 2.8% median forecast and of the 3.5–4.5% full‑year target set by the government.
In Manila, the Philippine Statistics Authority said the nation’s economy grew 2.1 % in the third quarter of 2026, a decline from 2.4 % in the second quarter, marking the fifth straight period of slowing expansion.
Local media outlet Inquirer.net said the dip was driven by weak government spending and subdued domestic demand, factors that were inflamed by a corruption scandal and the ongoing Middle East conflict.
The 2.1 % growth rate was below the 2.8 % median forecast put forward by 14 economists surveyed by Inquirer.net, and it also fell short of the 3.5 % to 4.5 % full‑year target set by the Philippine government for 2026, according to the PSA report.
From January to September, the economy grew 2.5 %, also missing the government’s target range.