Growth was mainly driven by a strong 2.3 percent expansion in manufacturing (vs +0.6 percent in the previous period), more than offsetting contractions in utilities, construction, and primary activity. Services grew 0.5 percent for the second straight period.
On the expenditure side, government spending rose 1.6 percent and private expenditure 0.6 percent, whereas gross fixed capital formation plunged 4.5 percent, mainly dragged by a 6.4 percent contraction in construction. Exports grew 3.9 percent while imports edged down 0.1 percent.
On an annual basis, the economy expanded 2.0 percent, slowing from a 2.8 percent growth in the previous three months and missing market consensus of 2.2 percent.