Philippines economic growth slowdown
The developments in this story so far, most recent first.
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Development
Philippines Q2 GDP growth slows to 2.3 per cent
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· date approximate Development
Philippines Q2 GDP growth slows to 2.3% year-on-year
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· date approximate Background
The Philippine government lowered its 2026 GDP growth forecast to 3.5%-4.5% in June 2026.
In June 2026, the Philippine government lowered its economic growth forecast for the year to a range of 3.5% to 4.5%. The revision was attributed to the Middle East crisis and an infrastructure-related corruption scandal that resulted in slower government spending.
This adjustment came after the Philippine economy grew by 2.3% year-on-year in the second quarter. This growth rate was slower than the 2.8% expansion expected by economists in a Reuters poll, which would have matched the growth rate seen in the first quarter.
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· date approximate Background
The Philippine economy grew 2.8 percent year-on-year in the first quarter of 2026.
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