On the expenditure side of the accounts, household consumption increased 1.5 percent, after showing no growth in the previous three-month period and government spending rose at a sharper 1.3 percent (vs 0.4 percent in Q1). Also, net trade contributed positively to expansion, as exports surged 5.9 percent (-5.5 percent in Q1) while imports advanced only 0.3 percent (vs -3.6 percent in Q1). Meantime, fixed investment declined less (-1.4 percent vs -3.1 percent).
On the output side, industry made the largest positive contribution to the Q2 result, rebounding significantly (5.3 percent vs -9.4 percent in Q1), within which manufacturing also grew (5.0 percent vs -9.9 percent). Other important recoveries were seen in construction (3.2 percent vs -0.6 percent); distribution, trade, hotels & restaurants (3.9 percent vs -0.3 percent); finance and insurance activities (1.2 percent vs -1.2 percent); professional, administrative and support services (3.7 percent vs -2.2 percent). In addition, solid growth was recorded in information and communication (11.9 percent vs 11.3 percent). On the other hand, contractions were seen in agriculture (-3.4 percent vs -2.5 percent); arts and entertainment (-2.8 percent vs -3.8 percent); public administration, education, health (-1.1 percent vs 2.0 percent) and real estate activities (-0.1 percent vs 0.1 percent).
Compared with the same quarter of the previous year, the GDP expanded 9.0 percent, following an upwardly revised 9.3 percent advance in the previous period.