With the country posting a lower growth compared to previous quarter once again.
On Monday, November 9, the Philippine Statistics Authority (PSA) reported that that tje Philippine Gross Domestic Product (GDP) for the months of July to September 2026 grew by only 2.1 percent.
The growth in the third quarter was 0.3 percentage points lower than the 2.4 percent recorded in the second quarter of the year. It is also the fifth consecutive quarter when the country saw a streak of slowing GDP growth.
According to the PSA, the main contributors to the third quarter 2026 year-on-year growth were wholesale and retail trade and repair of motor vehicles and motorcycles; public administration and defense, and compulsory social security; and financial and insurance activities.
Among the major economic sectors, statstics board said that services posted a year-on-year growth of 3.7 percent in the third quarter of 2026.
Meanwhile, agriculture, forestry, and fishing; and Industry declined year-on-year in the same period with 4.8 percent and 0.003 percent, respectively.
As for the demand side, household final consumption expenditure grew year-on-year by 2.4 percent in the third quarter of 2026.
“Similarly, Government final consumption expenditure; Exports of goods and services; and Imports of goods and services posted growths of 6.8 percent, 8.6 percent, and 7.7 percent, respectively. Meanwhile, Gross capital formation posted a decline of 0.2 percent in the same period,” it added.
The Gross National Income (GNI), meanwhile, grew year-on-year by 2.7 percent in the third quarter of 2026.
In a separate disclosure, the PSA announced last Thursday, November 5, that the headline inflation rate for the Philippines accelerated to 7.8 percent in October 2026.
That is 0.6 percentage points higher than the 7.2% rate recorded the month prior, and is more than 6 percentage points higher than the 1.7% rate registered in October 2025.
