In the second quarter, household consumption remained unchanged, following a 0.5 percent increase in the previous quarter. Government expenditure grew by 1.7 percent, significantly faster than a 0.2 percent expansion in the preceding three months.
Investment in equipment fell 0.9 percent, compared to a 3.7 percent growth in the March, mainly due to machines and vehicles. Investment in construction also dropped by 0.3 percent, faster than a 0.2 percent decline previously.
Exports of goods (excluding non-monetary gold and valuables) increased by 0.8 percent, compared to a 2.3 percent increase in the preceding quarter. Positive contributions came from chemicals and pharmaceuticals. In contrast, sales declined for precision instruments, watches, jewelry and machinery/appliances. heading. Imports of goods (excluding non-monetary gold and valuables) rose 0.5 percent, slowing slightly from a 0.6 percent increase in the March quarter.
Year-on-year, the economy expanded 2.0 percent, accelerating from an upwardly revised 1.1 percent growth in the March quarter while market estimated a 0.9 percent growth. It was also the fastest expansion since the December quarter 2014.