Quarter-on-quarter, private consumption grew 0.7 percent, the biggest increase in three years, and public investment rose 0.6 percent. Overall consumption contributed 0.5 percentage points to growth. Positive contributions were also made by foreign trade which added 0.2 percentage point to the growth. The increase in exports (1.9 percent) was higher than that of imports (+1.7 percent).
In contrast, total capital formation subtracted 0.7 percentage point from the growth. Investment in machinery and equipment was down 2.3 percent and investment in construction decreased by 0.3 percent. Inventories were also reduced, which slowed the gross domestic product growth by 0.5 percentage points.
Year-on-year, the GDP expanded by 1.2 percent as compared to 1 percent growth in the second quarter of 2014.