Philippines GDP Growth Near Standstill in Q3

2026-11-09 02:32 By Kyrie Dichosa 1 min. read

The Philippine economy expanded just 0.1% quarter-on-quarter in Q3 2026, moderating from 0.5% growth in Q2 and missing market expectations of a 0.9% expansion.

The slowdown was largely driven by a sharp contraction in agriculture, forestry, and fishing (-7.7% vs. 3.3% in Q2), while services growth eased to 0.4% from 1.3%.

These offset a rebound in industry, which expanded 1.5% after contracting 1.9% in the previous quarter, supported by recoveries in construction (6.9% vs. -9.5%) and mining and quarrying (11% vs. -10%).

Within services, education recorded the steepest contraction, falling 6.8%, while financial and insurance activities and professional and business services both grew 1.5%.

On the expenditure side, household consumption growth slowed to 0.4% from 0.7%, while government spending contracted 0.1% after rising 1.4%.

Gross capital formation rebounded 3.6% following a 3.4% contraction, while exports growth nearly stalled at 0.1% from 1.9%.



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Philippines GDP Growth Near Standstill in Q3
The Philippine economy expanded just 0.1% quarter-on-quarter in Q3 2026, moderating from 0.5% growth in Q2 and missing market expectations of a 0.9% expansion. The slowdown was largely driven by a sharp contraction in agriculture, forestry, and fishing (-7.7% vs. 3.3% in Q2), while services growth eased to 0.4% from 1.3%. These offset a rebound in industry, which expanded 1.5% after contracting 1.9% in the previous quarter, supported by recoveries in construction (6.9% vs. -9.5%) and mining and quarrying (11% vs. -10%). Within services, education recorded the steepest contraction, falling 6.8%, while financial and insurance activities and professional and business services both grew 1.5%. On the expenditure side, household consumption growth slowed to 0.4% from 0.7%, while government spending contracted 0.1% after rising 1.4%. Gross capital formation rebounded 3.6% following a 3.4% contraction, while exports growth nearly stalled at 0.1% from 1.9%.
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