Postpandemic low: Q2 GDP grew by just 2.3%

MANILA, Philippines — The Philippine economy remained sluggish in the second quarter as the Middle East war peaked and government spending stayed weak.

Gross domestic product (GDP) grew by just 2.3 percent in the second quarter, slowing further from the 2.8-percent growth in the previous quarter and the 5.4-percent expansion posted a year earlier.

READ: Poll: Q2 PH growth likely slowed to 2.7%

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The latest data from the Philippine Statistics Authority marked the country’s weakest quarterly economic growth in 16 years outside the pandemic, when the economy had expanded by 1.8 percent in the fourth quarter of 2009.FEATURED STORIES