Manila, Nov. 9 -- The government vowed to implement urgent measures that will restore the country's economic growth, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said on Monday.

The Philippine Statistics Authority (PSA) reported that Philippine economic growth slowed to 2.1 percent in the third quarter of the year from 2.4 percent in the second quarter.

Economic growth in the third quarter of 2025 was at 4 percent.

In a briefing, Balisacan said economic growth was affected by high food and energy prices, which constrained household spending.

Household final consumption expenditure rose by 2.4 percent, slower than the 4 percent recorded last year.

Tighter financing conditions also weighed on i...