- In the second quarter, the Philippine economy grew the fastest among its East Asian peers.
- Recent manufacturing activities were strong but the sector is approaching its capacity limits.
- With continued strong growth, the unemployment rate fell to a 10-year record low and underemployment improved in July.
- The budget deficit widened in July, marked by growth in expenditures against lower revenue collection.
- Imports of capital goods and consumer goods remained strong while export continued to contract in July.
- On August 29, the government issued revised implementing rules and regulations for the Government Procurement Reform Act, which could help eliminate procurement bottlenecks and improve budget implementation and predictability.