In brief
According to PSA data reported by Xinhua, the Philippines' Q3 growth was 2.1%—a decline from 2.4% in Q2 and the fifth straight quarter of deceleration. Weak government spending and domestic demand, exacerbated by a corruption scandal and the Middle East conflict, were cited as causes, while the figure understates the 2.8% median forecast of 14 economists. The Q1‑to‑Q3 growth of 2.5% falls short of the government’s 3.5‑4.5% annual target.
Manila—The Philippine economy expanded 2.1% in the third quarter of 2026, down from 2.4% in the second quarter, the Philippine Statistics Authority (PSA) said on Monday, according to Xinhua.
PSA data mark the fifth straight quarter of deceleration for the Philippine economy, Xinhua reported, as government spending and domestic demand remain subdued.
Local media outlet Inquirer.net attributes the slowdown to a corruption scandal and the Middle East conflict, Xinhua said.
The 2.1% expansion fell short of the 2.8% median forecast of 14 economists surveyed by Inquirer.net, the outlet added.
Growth from January to September stood at 2.5%, below the 3.5% to 4.5% full‑year target set by the Philippine government, Xinhua reported.

