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November 9, 2026 | 10:25am
Towering high-rise buildings show a stark contrast against a nearby residential area in Makati City, as seen from a high vantage point from Mandaluyong City on April 10, 2026.
The Philippine STAR / Miguel de Guzman
This is a developing story. Check back for details.
MANILA, Philippines — Philippine economic growth weakened to 2.1% in the third quarter of 2026, slower than the 2.4% growth in the second quarter.
The latest data from the Philippine Statistics Authority on Monday, November 9 extends the country's weak expansion, as agriculture contracted and industry remained nearly flat.
The last quarter's rate is also lower than last year's 4% for the same period.
Services remained the main driver of growth, expanding by 3.7% from a year earlier and contributing 2.5 percentage points to overall GDP growth.
Wholesale and retail trade and the repair of motor vehicles and motorcycles made the largest industry contribution at 0.8 percentage point.
Agriculture, forestry and fishing contracted by 4.8%, while industry posted a marginal decline of 0.003%.
Gross national income, meanwhile, grew by 2.7%.
GDP measures the value of goods and services produced within the country's borders. GNI measures income earned by the country's residents, including net income from abroad.
