In the fourth quarter, household consumption rose 0.6 percent, following a 0.1 percent rise in the previous two quarters. Government expenditure rose 0.4 percent, compared to a 0.3 percent increase in the preceding quarter. Total gross fixed capital formation grew by 0.8 percent, much faster than a 0.3 percent growth in the September quarter. Final domestic demand (excluding changes in inventories) contributed 0.6 points to GDP growth, up significantly from 0.2 points in the prior quarter.
Exports increased by 1.1 percent, faster than a 0.5 percent rise in the third quarter. Imports also went up 0.8 percent, slowing sharply from a 2.5 percent increase in the preceding quarter. The foreign trade balance contributed positively to the economy (0.1 points after -0.7 points in the third quarter). In contrast, changes in inventories contributed negatively: -0.2 points after +0.7 points in the September quarter.
Year-on-year, the GDP grew by 1.1 percent, faster slightly than a 1.0 percent expansion in the third quarter.