Net external demand was the main driver of growth, as exports surged 1.3 percent (vs 0.6 percent in Q1) and imports advanced at a slower 0.7 percent (vs 1.6 percent in Q1). Also, household consumption rose at a faster 0.8 percent, after a 0.2 percent gain in the previous period. Meanwhile, gross investment in fixed assets slowed (1.3 percent vs 2.7 percent); and there was a contraction in government spending (-0.1 percent vs 0.4 percent in Q1).
Compared with the same quarter of 2018, the GDP grew 2.0 percent, quickening from a 1.7 percent advance in the previous period. Both fixed investment (5.3 percent vs 5.0 percent in Q1) and household consumption (1.7 percent vs 0.7 percent) rose faster while government spending weakened somewhat (0.8 percent vs 1.3 percent). At the same time, net foreign demand contributed positively to the GDP growth, as exports advanced 3.0 percent (vs 1.3 percent in Q1) and imports increased at a softer 2.5 percent (vs 2.2 percent in Q1).