On the expenditure side, government spending slumped 46.10 percent in the first quarter, after a 39.94 percent jump in the previous period, and fixed investment declined by 4.86 percent, compared to a 4.73 percent increase. Also, exports dropped by 1.03 percent (vs 1 percent in Q4) and imports decreased by 3.88 percent (vs 9.47 percent in Q4). On the other hand, private consumption increased by 0.1 percent, after showing no growth in the preceding quarter.
On the production side, output fell for: education (-11.36 percent); public administration (-8.92 percent); construction (-4.60 percent); electricity and gas (-2.47 percent); human health and social work activities (-2.00 percent); water supply, sewerage, waste management and remediation activities (-1.18 percent); mining and quarrying (-0.60 percent); and transportation and storage (-0.45 percent). On the other hand, output increased for: agriculture, forestry and fishing (16.36 percent); manufacturing (0.70 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (0.46 percent); accommodation and food service (0.67 percent); information and communication (1.22 percent); financial and insurance activities (2.43 percent); real estate (1.30 percent); business activities (1.12 percent); and other services (1.37 percent).
Year-on-year, the economy grew by 5.06 percent, easing from a 5.19 percent growth in the previous period and missing market expectations of 5.18 percent.