Net external demand was the main driver of growth, as exports jumped 0.9 percent in the second quarter (vs -0.6 percent in Q1) and imports dropped 0.1 percent (vs 0.3 percent in Q1). Also, fixed investment advanced 0.7 percent (vs 2.5 percent in Q1) and government spending rose 0.2 percent (vs 0.4 percent in Q1). Changes in inventories contributed 0.1 percentage points to growth (vs 0.6 percentage points in Q1). On the other hand, household consumption was unchanged in the second quarter after a 1.4 percent surge in the previous period.
Compared with the same quarter of 2017, the GDP rose by 2.9 percent in the three months to June, following a 2.8 percent advance in the previous period. Growth was driven by fixed investment (5.3 percent vs 6.3 percent in Q1), exports (2.9 percent vs 2.5 percent), household expenditure (2.2 percent vs 3.6 percent) and public spending (1.2 percent vs 1.3 percent). Also, changes in stocks contributed 0.8 percentage points to growth (vs -1 percentage points in Q1).