Economic growth in Q2 was 2.2% yr/yr according to unadjusted data and 2.1% according to figures adjusted for calendar impacts. The comparative figures in Q1 were +1.7% yr/yr (unadjusted) and +1.0% yr/yr (adjusted). This latter figure has been revised upwards from 0.9%.
The Statistic Office told Reuters that the production side estimates shows that:
# agricultural output performed better than expected,
# the government sector also expanded particularly the health care services,
#the construction sector stopped contracting
The statistics office will publish a detailed breakdown of the data on 5 September, but it is not unreasonable to assume that the better-than-expected result was mainly a product of a stabilisation in the contraction in retail sales and construction, an improvement in theagricultural sector and a higher net exports contribution