The Philippine economy grew at the fastest pace since 1988 in the second quarter driven by strong household spending, investment and exports, data published by the Philippine Statistics Authority showed on Tuesday.
Gross domestic product rebounded 11.8 percent year-on-year, in contrast to the 3.9 percent decline seen in the first quarter.
This was the biggest expansion since the fourth quarter of 1988, when GDP gained 12 percent. The annual growth exceeded economists' forecast of 10 percent and also marked the first growth in six quarters.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.