The economy expanded by 3.4% year-on-year in 1Q19 versus 1Q18. Net export was the main contributor to sequential growth, consumption recovered, while gross fixed capital formation decelerated.
YoY GDP growth
vs 3.2% Bloomberg median and ING call
Soft data points to similar cruising speed
The economic sentiment index (ESI) recovered at the start of the second quarter as fiscal and monetary stimulus and EU funds should be enough to keep growth prospects quite solid for the current year.