The second quarter expansion was driven by public spending (0.5 percent vs -0.3 percent in Q1) and household consumption (0.1 percent vs 0.4 percent). However, fixed investment contracted 1.8 percent, after a 0.3 percent advance in the previous period; and net external demand contributed negatively to the GDP growth as exports slumped 5.5 percent (vs 1.8 percent in Q1) and imports fell at a slower 2.1 percent (vs 0.8 percent in Q1).
From the production side, services output rose by 0.3 percent in the second quarter, following a 0.1 percent increase in the precedent three-month period, boosted by growth in: information & communication services (1.2 percent vs -1.1 percent); real estate activities (1.2 percent vs 0.4 percent); financial & insurance activities (0.7 percent vs -0.2 percent); and other service activities (0.7 percent vs 0.6 percent). By contrast, a contraction was recorded for transport, storage & post (-1.4 percent vs 0.6 percent); trade (-0.3 percent vs 0.1 percent); and public administration, defense, education, health (-0.2 percent vs 0.1 percent).
Meanwhile, industry output shrank 0.6 percent after a 0.1 percent gain in the first quarter, as output declined for both manufacturing (-0.8 percent vs -0.4 percent) and construction (-0.8 percent vs -0.4 percent), while growth was recorded for utilities (0.7 percent vs 2.3 percent) and mining (0.4 percent, the same as in Q1). Agriculture output was unchanged in the second quarter after an increase of 1.3 percent in the previous period.