| Actual | Previous | |
| Quarter over Quarter | 0.3% | 0.2% |
| Year over Year | 0.8% | 0.7% |
Highlights
The economy expanded 0.3 percent in the first quarter from the previous three-month period and 0.8 percent to the first quarter of last year. That marks the third consecutive quarter of expansion.
Exports during the period increased 2.2 percent while imports fell 0.7 percent quarter-on-quarter, indicating a positive contribution from trade.
Domestic demand as measured by final consumption spending was also a positive influence, increasing 0.4 percent quarter-on-quarter, the best result since the fourth quarter of 2024. Government spending on the other hand was flat.
Fixed capital formation was 0.7 percent higher in the first quarter, but that was the slowest increase in six quarters which was attributable to a 2.7 percent drop for investment in housing. That for machinery and weaponry was 2.3 percent higher while transportation equipment outlays were 2.0 percent higher.
While not staggering grown, the economy has so far proven to be relatively resilient in the face of ongoing challenges from the now-illegal US tariffs and the conflict in the Middle East.