Iceland GDP Growth Eases In Q2

Iceland GDP Growth Eases In Q2

Iceland's economic growth moderated further in the three months ended June, figures from Statistics Iceland showed Friday.

Gross domestic product advanced 3.4 percent year-over-year in the second quarter, slower than the 5.2 percent rise in the first quarter.

Moreover, the latest rate of growth was the weakest since the fourth quarter of 2015, when the economy had grown 3.1 percent.

On the expenditure side, total domestic expenditure rose 6.7 percent annually in the June quarter and gross fixed capital formation increased by 5.8 percent. Both exports and imports grew by 8.0 percent and 16.2 percent, respectively.

On a quarterly basis, GDP declined a seasonally adjusted 1.1 percent in the second quarter.