In the first quarter, positive contribution to GDP growth came from final domestic demand (0.2 percentage points). Meanwhile, net foreign trade had a negative contribution of 0.1 percentage points and changes in inventories gave no contribution to growth.
Within domestic demand, gross fixed capital formation rose by 0.2 percent, much slower than a 0.9 percent rise in the previous quarter, mainly due to a sharp slowdown in corporate investment (0.1 percent from 1.2 percent in the December quarter). In addition, household spending increased by 0.1 percent, following a 0.2 percent gain in the preceding period. Meantime, government expenditure went up 0.3 percent, the same as in the prior quarter.
Exports declined by 0.3 percent, reversing from a 2.4 percent growth in the prior quarter. Meantime, imports fell 0.1 percent, after a 0.3 percent rise in the previous period.
Year-on-year, the economy expanded by 2.2 percent in the first quarter, matching the second estimates and following a 2.8 percent growth in the previous quarter.