In the June quarter, total gross fixed capital formation declined by 0.2 percent, after growing 1.3 percent in the March quarter while household consumption decelerated sharply (+0.0 percent from +1.2 percent in the previous three months). In contrast, government expenditure expanded 0.4 percent, the same pace as in the preceding quarter. Final domestic demand (excluding changes in inventories) was virtually stable, contributing 0.1 points to GDP growth (after +1.0 points in Q1). Changes in inventories contributed negatively: -0.7 points after -0.1 points in the March quarter.
Exports dropped by 0.1 percent, slower than a 0.4 percent decline in the previous quarter. Imports dropped by 2.0 percent, compared to a 0.5 percent growth in the first quarter. The foreign trade balance contributed positively to the economy (+0.6 points after -0.2 points in the preceding quarter).
Year-on-year, the GDP grew 1.4 percent, after growing by an upwardly revised 1.4 in the previous quarter and in line with preliminary estimates.