The Philippine economy grew by 2.1% in the third quarter of 2026, slowing from the previous quarter amid high food and energy prices, a weak agricultural sector, and sluggish investments.
Data from the Philippine Statistics Authority (PSA) showed that the latest growth rate was lower than the 2.4% recorded in the second quarter and the 4% expansion in the same period last year.
Department of Economy, Planning and Development (DEPDev) Secretary Arsenio Balisacan said the contraction of the agriculture sector was among the major factors that weighed on economic growth.
Agriculture contracted by 4.8% due to tropical cyclones and the enhanced southwest monsoon, while palay and corn production declined by more than 17%.
Balisacan also cited high food and energy prices, which weighed on consumer spending, as well as continued weakness in investments in construction and equipment.
Despite the slowdown, exports grew by 8.6%, while electronics exports increased by 19.4%.
For the first nine months of 2026, the Philippine economy posted a growth rate of 2.5%.
