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Manila Bulletin devider Business devider The Economy devider Philippine economic slowdown deepens with Q3 growth revision

Philippine economic slowdown deepens with Q3 growth revision

Published Jan 28, 2026 02:16 pm
The country’s economic growth in the third quarter of 2025 was revised downward, reflecting a slower pace than previously reported, the Philippine Statistics Authority (PSA) said.
In its latest release on Wednesday, Jan. 28, the PSA reported that gross domestic product (GDP) growth for the July to September period of 2025 was revised to 3.9 percent, down from the initially reported four percent, which had already been the slowest expansion in 4.5 years.
PSA is set to release the country’s fourth-quarter and full-year 2025 GDP data on Thursday, Jan. 29.
The PSA attributed the downward revision largely to weaker performance in several key sectors. Growth in electricity, steam, water, and waste management was revised sharply from 0.6 percent to -0.6 percent.
The real estate and ownership of dwellings sector also saw its growth trimmed to four percent from 4.7 percent, while accommodation and food service activities were revised to 4.8 percent from 5.7 percent.
PSA said that downward adjustments were likewise recorded in other key economic indicators for the third quarter of 2025. Gross National Income (GNI) growth was revised to 5.4 percent from 5.6 percent, while Net Primary Income from the Rest of the World was lowered to 16.2 percent from 16.9 percent.
Such revisions are part of its regular statistical process. The agency revises GDP estimates in accordance with its approved revision policy under PSA Board Resolution No. 1, Series of 2017-053, which follows internationally accepted standards and best practices for national accounts revisions.
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