Overview

• The economy expanded 3.1% year-on-year in April-June, beating the 2.7% forecast and marking a tenth straight quarter of growth.
• On a seasonally adjusted basis, GDP rose 0.4% in the second quarter following a revised 1.8% gain in Q1.
• Goods exports jumped 11.5% year-on-year as firms front-loaded shipments ahead of the August tariff deadline.
• Private consumption expenditure rebounded 1.9%, ending four consecutive quarters of decline and reflecting stabilizing domestic demand.
• The government has rolled out measures to bolster consumption and attract investment, warning that the August expiry of tariff relief and uncertain US monetary policy could curb momentum.