On a quarterly basis, GDP rose by just 0.6%, signaling a loss of momentum compared to earlier in the year.
The data breakdown shows a marginal 0.1% decline in total final consumption, as household spending fell under pressure from shrinking disposable incomes. By contrast, gross fixed capital investment jumped 7.4%, while exports of goods and services rose 1.3%. Services exports gained 2.6%, offsetting stagnation in goods. Imports fell 0.9%, driven mainly by a 2% drop in services imports.
On an annual basis, the 1.7% GDP expansion was largely supported by stronger domestic demand and higher investment. Private consumption edged up 1.0%, while fixed capital investment increased by 6.5%. The external sector also contributed positively, with exports rising 1.9% and imports down 3.2%, improving the trade balance.
Still, exports of goods posted negative results both quarterly (-0.03%) and annually (-1.1%), limiting the overall boost from foreign trade. Meanwhile, the decline in imports, though supportive of the trade balance, also points to weakening domestic demand — a trend that raises concerns about growth prospects in the second half of the year.
