The acceleration of exports supported a 0.8% GDP increase in spring, according to detailed second quarter data. The recovery in external sales, particularly strong in the services sector, was the main driver of economic growth, ensuring GDP evolution above expectations.
Domestic demand had a residual contribution to economic evolution in the second quarter. This weak performance was mainly due to a drop in investment, which failed to compensate for the growing import needs resulting from the export dynamics.
The now known data allow for a more detailed analysis of the economy's behavior during the spring period, revealing that the export sector was decisive for the positive GDP result, while domestic expenditure components did not contribute significantly to growth.
