The Philippine economy grew well short of expectations in the second quarter as high inflation weighed on household spending and weak global demand and higher imports dampened net trade.
Gross domestic product grew 7.4 percent on a yearly basis in the second quarter, the Philippine Statistics Authority said Tuesday. This was slower than the revised 8.2 percent increase in the first quarter and economists' forecast of 8.6 percent and also marked the weakest expansion in three 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.