According to first preliminary report, private demand declined 0.4 percent, subtracting 0.3 percentage point to growth. Private consumption, which accounts for about 60 percent of the economy, fell 0.8 percent, substracting 0.4 percent to growth. Private non-resential investment dropped 0.1 percent. In contrast, private residential investment grew 1.9 percent, adding 0.1 percentage point to growth.
Exports declined by 4.4 percent, substracting 0.8 percentage poin from growth. Imports also declined by 2.6 percent, contributing 0.5 percentage point to growth.
In contrast, public demand grew by 0.8 percent in the June quarter, contributing 0.2 percentage point to growth. Government consumption expanded 0.4 percent, contributing 0.1 percentage point to growth. Public investment grew 2.6 percent, also adding 0.1 percentage point to growth.
The second quarter gross domestic product figure translated into an annualised contraction of 1.6 percent. It is also the first contraction since the September quarter of 2014.