In the first quarter of 2016, households final consumption expenditure grew by 1.0 percent (after remaining unchanged in the December quarter). Government expenditure rose 0.4 percent, the same pace as in the previous three months. Total gross fixed capital formation increased by 1.6 percent, accelerating from a 1.2 percent expansion in the preceding quarter. Non-financial corporations' investment rose 2.4 percent, as compared to a 1.9 percent rise in the fourth quarter 2015. Final domestic demand excluding inventory changes contributed for +1.0 points to GDP growth (after +0.3 points in the December quarter). While exports remained unchanged (from +0.8 percent rise), imports rose 0.6 percent (from +2.5 percent). That brought the foreign trade balance contributed negatively to the economy (-0.2 points after -0.6 points in the December quarter). Changes in inventories also contributed negatively to GDP growth (-0.2 points after +0.7 points).
Year-on-year, the economy expanded 1.3 percent and in line with first estimate.