The Philippine economy grows at its weakest annual pace in about five years in the second quarter, with multiple reports attributing the slowdown primarily to weakness in construction. Interaksyon says second-quarter performance reflects a slump in construction activity, alongside softer overall demand conditions. The same report notes that household spending growth eases as inflation remains elevated. It also reports that investment declines during the quarter, while construction contracts expand markedly. For the first half of the year, Interaksyon cites growth of 2.6%, below the government’s stated full-year target range of 3.5% to 4.5%. The reported figures indicate the economy’s overall expansion is slower than in recent quarters, though they do not specify a full breakdown of all sectors beyond construction and the areas mentioned. Taken together, the coverage portrays a broader growth slowdown in the second quarter, driven by sectoral weakness—especially construction—and constrained consumer activity amid continued price pressures.