Key facts
- The Philippine economy grew 2.1% year on year in the July-September period, Nikkei Asia reported.
- The report said the pace was the weakest quarterly growth in more than five years.
- The report said the figure casts doubt on whether the government meets its lowered growth target.
- An economist quoted by the report called AI-driven semiconductor exports the country's "only bright spot."
The Philippine economy expanded 2.1% year on year in the July-September period, the weakest quarterly growth in more than five years, Nikkei Asia reported on November 9, 2026. The report said accelerating inflation continues to reduce household spending.
The report said the pace casts doubt on whether the government meets its lowered growth target for the year. It gave no growth target figure and named no statistical agency as the source of the 2.1% reading.
The report attributed the inflation pressure to the Philippines' heavy reliance on oil imports and to global energy shocks it dated to the start of U.S.-Israeli attacks on Iran in February. It gave no inflation rate or basis.
An economist quoted in the report described AI-driven semiconductor exports as the country's "only bright spot." The report did not name the economist or give a figure for those exports.