Philippine economy posts slowest growth in five years in second quarter
CNA·
- The Philippine economy grew by 2.3 % in the second quarter of 2026, marking the slowest pace since 2021 due to shrinking construction and weak domestic demand.
- The construction sector contracted by 14.8 %, and household spending slowed to 2.8 % amid high inflation averaging 5.0 % in the first 7 months.
- Despite the setback, the government anticipates an economic recovery in the second half driven by increased infrastructure spending, which will be evaluated by the central bank on August 27.
