The Philippine economic growth improved somewhat in the second quarter, thanks to increased household consumption amid easing inflation, the Philippine Statistics Authority reported on Thursday.
Gross domestic product grew 5.5 percent year-on-year in the second quarter, which was slightly faster than the 5.4 percent rise in the first quarter.
All major economic sectors, namely agriculture, forestry, and fishing, industry, and services, posted annual growths in the second quarter with 7.0 percent, 2.1 percent, and 6.9 percent, respectively.
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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.