The Philippine economy grew at a faster-than-expected pace in the third quarter underpinned by government spending and exports, official data revealed Thursday.
Gross domestic product posted an annual growth of 5.9 percent, faster than the 4.3 percent expansion seen in the second quarter, the Philippine Statistics Authority said. The rate was forecast to improve moderately to 4.7 percent.
The economy rebounded 3.3 percent on a quarterly basis after shrinking 0.7 percent in the second quarter. The rate was also better than the expected 2.0 percent rise.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.