-- The Philippines' economy grew 2.8% year on year in the first quarter of 2026, slowing from the 3% expansion in the previous quarter, data from the Philippine Statistics Authority showed on Thursday.
The figure also missed the 3.5% growth forecasts by Trading Economics.
The main contributors to first-quarter growth were wholesale and retail trade and repair of motor vehicles and motorcycles, which expanded 4.6%, financial and insurance activities at 3.4%, and public administration and defense; compulsory social security at 8.6%.
By sector, services grew 4.5% annually, while agriculture, forestry and fishing slipped 0.2% and industry edged down 0.1%.
On the expenditure side, household final consumption expenditure rose 3.0%, government spending increased 4.8%, exports of goods and services climbed 7.8%, and imports grew 6.1%. Gross capital formation, however, contracted 3.3%.
Gross National Income expanded 3% from a year earlier in the January-March period, the data showed.