PH Q3 GDP growth slackens to 2.1%, slowest since COVID period

The Philippine economy slackened further to a 2.1% growth in the third quarter of 2026, the slowest since the contractions recorded during the COVID-19 pandemic in 2020 until the first quarter of 2021.

The third quarter gross domestic product (GDP) figure was lower than the revised 2.4% growth in the second quarter of the year and 4% expansion in the third quarter of last year, according to data from the Philippine Statistics Authority.

For the first three quarters of the year, GDP growth stood at 2.5%.

High food and energy prices, contraction in agriculture production, and subdued investment brought the weakness during the third quarter, according to Department of Economy, Planning, and Development secretary Arsenio Balisacan in a media briefing on November 9.

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