Philippine Economy Grew Just 2.1% in Third Quarter: Fifth Straight Slowdown and Weakest Since 2021
The Philippine Statistics Authority announced on November 9 that the country's gross domestic product grew 2.1% year on year in the third quarter of 2026, down from a revised 2.4% in the second quarter and well below 4.0% in the same quarter of 2025. It was the fifth consecutive quarter of slowing growth and the weakest quarterly performance since a 3.8% contraction in the first quarter of 2021.
The figure came in below market forecasts: a Reuters poll had projected 3.0%, a BusinessWorld poll of 16 economists 2.7%, and a Bloomberg median 3.1%. Growth averaged 2.5% over the first three quarters of the year.
Economy Secretary Arsenio Balisacan said the economy would need to grow by about 6.3% in the fourth quarter to reach even the low end of the government's revised full-year target range of 3.5% to 4.5%.
Source: Philippine Statistics Authority
Published by GSM · USA (original Chinese edition)
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