Manila:The Philippine economy recorded a growth of 2.1 percent in the third quarter of 2026, a decline from the 2.4 percent growth observed in the previous quarter, as reported by the Philippine Statistics Authority (PSA) on Monday.

According to Namibia Press Agency, this latest figure represents the fifth consecutive quarter of slowing economic growth for the Philippines. Factors such as restrained government spending and domestic demand, influenced by a corruption scandal and ongoing Middle East conflict, have contributed to this deceleration, as noted by local media outlet Inquirer.net.

The third-quarter growth rate of 2.1 percent also fell short of the 2.8 percent median forecast anticipated by 14 economists surveyed by Inquirer.net. For the period from January to September, the growth rate stood at 2.5 percent, which is below the Philippine government's full-year target range of 3.5 percent to 4.5 percent.