On the expenditure side, private consumption rose 0.11 percent, accelerating from 0.03 percent growth in the fourth quarter. Government consumption contracted by 48.68 percent, following a 43.28 percent expansion in the December quarter. Non-profit institutions serving households spending also declined by 1.19 percent from 1.46 percent growth in the preceding quarter. Investment contracted by 4.72 percent, after registering a 2.99 percent growth in fourth quarter. Exports in the first quarter of 2015 declined by 5.98 percent from a 4.32 percent expansion in the previous quarter. Imports also fell by 9.98 percent, following a 8.17 percent growth in the preceding period.
On the production side, contractions were seen for: mining and quarrying sector (-9.19 percent), electricity and gas (-7.34 percent), construction (-5.94 percent), education services (-10.89 percent), health services and social activities (-6.39 percent), transport and warehouse (-1.17 percent) and manufacturing (-0.62 percent). In contrast, growth were seen for: the agriculture sector (+14.63 percent), the information and communication sector (+3.06 percent), the companies services (+2.24 percent) and real estate (+1.17 percent).
Year-on-year, the economy advanced by 4.71 percent, following a 5.01 percent in the last quarter of 2014. It is the slowest expansion since the third quarter of 2009.