The Philippine economy grew by 2.3 percent in the second quarter of 2026, its slowest pace in more than fifteen years, according to official data. The figure marked the weakest quarterly expansion since 2009 and fell short of the government’s targets for the year.
The slowdown reflected softer activity across several parts of the economy, with weaker output weighing on the overall reading. Analysts had expected some cooling, but the size of the drop drew attention from economists tracking the country’s recovery.
Household spending, long a pillar of Philippine growth, showed signs of strain as consumers navigated higher costs. Government and investment figures added to the mixed picture, leaving policymakers to weigh how much support the economy might need in the months ahead.
Officials framed the result as a temporary setback rather than a lasting downturn, pointing to factors they expect to fade. Still, the reading raised questions about whether full-year growth targets remain within reach.
Economists said the central bank and fiscal authorities would watch upcoming data closely for signs of a rebound. The second-quarter number set a cautious tone as the country moved into the second half of the year.
