The facts
The PSA reported real GDP growth of 2.1% year over year in Q3 2026, compared with a revised 2.4% in Q2 2026 and 4.0% in Q3 2025. [1][3]
Seasonally adjusted GDP increased 0.1% quarter over quarter, according to the PSA. [2]
Services grew 3.7%, agriculture contracted 4.8%, industry was nearly flat at about -0.003%, household consumption rose 2.4% and capital formation declined 0.2%, the PSA reported. [1]
The release reports one quarter of slower growth and near-flat sequential output; it does not establish that the Philippine economy is in recession. [1][2][3]
Still unconfirmed
- The release does not by itself establish whether the slowdown will persist in later quarters or how policy makers will respond.
Sources
References support the numbered facts above. Source checks: 9 Nov 2026, 04:09 UTC.
The PSA releases are primary evidence for the year-over-year and seasonally adjusted rates and component figures. Philstar independently reports the release. Comparisons are labeled by period and basis; no recession claim is made.
- GDP grows 2.1 percent in third quarter 2026
Philippine Statistics Authority · Primary source · 9 Nov 2026
Opened the national statistics agency’s release. It reports the year-over-year GDP rate and sector and expenditure contributions.
- Seasonally adjusted national accounts, third quarter 2026
Philippine Statistics Authority · Primary source · 9 Nov 2026
Opened official quarterly accounts showing the seasonally adjusted quarter-over-quarter comparison.
- Philippine economy slows to 2.1% in Q3
Philstar · Reporting · 9 Nov 2026
Opened independent local reporting on the PSA release and comparisons.