FX.co ★ Philippines GDP Growth Cools to 2.3% in Q2 2026, Easing from 2.8% in Q1

Economic growth in the Philippines slowed in the second quarter of 2026, with year-over-year GDP expanding by 2.3%, down from 2.8% in the first quarter of the year. The latest data, updated on 07 August 2026, indicate a further loss of momentum compared with the start of 2026.

Both figures are measured on a year-over-year basis, comparing each quarter’s performance with the same period a year earlier. The first quarter’s 2.8% growth reflected the economy’s pace relative to the first quarter of the previous year, while the newly reported 2.3% reading shows that the second quarter also grew compared with a year ago, but at a weaker rate.

The moderation in growth suggests that the Philippine economy is expanding but at a slowing clip as 2026 progresses, potentially raising questions about the durability of domestic demand and investment in the coming quarters. Policymakers and investors are likely to watch subsequent releases closely for signs of whether this deceleration will persist or stabilize.