Philippine GDP growth further slows to 2.1% in Q3, dragged by inflation

Economy Philippine GDP growth further slows to 2.1% in Q3, dragged by inflation AI-driven semiconductor exports country's 'only bright spot,' economist says Vehicles drive through Chinatown in Manila. The Philippines, which is heavily reliant on oil imports, has seen inflation soar since the start of the U.S.-Israeli attacks on Iran in February and the resultant global energy shocks. © Reuters RAMON ROYANDOYAN November 9, 2026 11:09 JST Updated on November 9, 2026 13:39 JST MANILA -- The Philippine economy expanded 2.1% year-on-year in the July-September period, the weakest quarterly growth in more than five years, as accelerating inflation continues to sap household spending. Read Next Food & Beverage Yakitori chicken from Japan takes a stab at the Philippines, the land of Jollibee Currencies AI and oil worries rattle Asian currencies from Taiwan to Philippines Markets Philippines raises key rate to 5.5% as inflation saps growth Economy Philippines braces for El Nino impact as aging water systems falter Energy Japan's Chiyoda to help Philippines build oil storage facilities Work The high cost of visiting home: Filipino workers' dilemma in Lebanon Politics Philippine Muslim region elects chief minister in historic vote Latest on Economy Economy Indonesia's GDP grows 5.5% in Q3, helped by government spending Economy Debt costs curb growth for developing nations, Rockefeller official says Economy Hong Kong economy grows 5.2% as exports accelerate Sponsored Content About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.