Still waiting for Godot i.e. Slowdown
- Annual growth revised up to 3.7%
- Household consumption growth is slowing moderately
- Agriculture bounced back as expected and grew by 11%
Both annual and quarterly growth was revised upwards by 0.1pp. Domestic demand remained robust, however household consumption is slowing down for a full year now. Export grew impressively but was still overtaken by import growth which is unexpected given the weaker growth of household consumption. It could indicate a stronger investments and consumption in the quarters ahead.
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