By Katherine K. Chan, Reporter
DEUTSCHE BANK Research cut its Philippine growth forecast for 2026, saying the economy might only reach the lower end of the government’s target even as activity is expected to recover in the second half.
In a report dated Aug. 7, Deutsche Bank Economist Junjie Huang lowered the bank’s gross domestic product (GDP) growth forecast to 3.5% from 3.7%, following weaker-than-expected second-quarter growth.
The economy expanded by just 2.3% in the second quarter, slowing from 2.8% in the first quarter and 5.4% a year earlier. It was the weakest quarterly growth since the COVID-19 pandemic.
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