Growth in the June quarter was bolstered by seasonal factors such as election-related spending and budget front-loading. This boost should now fade.
"This particularly strong growth rate was a result of the high infrastructure spending and strong domestic demand that benefited from election-related spill overs," Sian Fenner, lead Asia economist at Oxford Economics, told CNBC's Street Signs. "But this kind of growth rates can't be maintained."
For the third quarter, she sees gross domestic product (GDP) rising 6.3 percent, which should see 2016 GDP growth come in at 6.3 percent, an estimate shared by HSBC. Australia and New Zealand Bank (ANZ) was more pessimistic, anticipating a full-year spike of 6.1 percent. The economy grew by 5.8 percent in 2015.
The Philippines held a general election in May that saw former Davao City Mayor Rodrigo Duterte win by a landslide vote. The campaign-spending limit for each presidential and vice-presidential candidate was capped at 543.64 billion Philippine pesos ($11,757,013), with Duterte spending nearly 400 million pesos in total, local media reported.
"It's no secret that candidates spend quite a bit during the elections in the form of political ads, rallies, and events ... Many government offices also tend to front-load a lot of their expenditures early in the year prior to the election ban," said Fenner.
Indeed, a breakdown of the GDP data showed public construction and government consumption grew by 27.8 and 13.5 percent, respectively.