Investing.com-- The Philippine economy grew less than expected in the third quarter of 2026, with growth slowing to its weakest pace since the COVID-era recession.
Gross domestic product grew 2.1% year-on-year in the third quarter, government data showed on Monday. The print was below expectations of 3.0% and slowed from the 2.3% in the prior quarter.
GDP grew 0.1% quarter-on-quarter, missing expectations of 0.9%.
The print marked a fresh post-COVID low for the Philippine economy, as it grapples with high inflation, sluggish agricultural output, and weakening industrial production.
High oil prices, stemming from the Middle East conflict, were a major headwind for growth this year, especially given the country's high reliance on oil imports.
This in turn factored into steeper domestic inflation, which attracted more interest rate hikes from the central bank.
An ongoing scandal over public infrastructure spending– chiefly a probe into flood control projects– also sparked delays in additional fiscal spending, which in turn weighed on overall growth.
Original Article
Philippine Q3 GDP grows at slowest pace since COVID recession
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