Year-on-year, household spending expanded at a faster 3 percent, compared to a 2.2 percent increase in Q3. Also, fixed investment rebounded (2.7 percent from -0.9 percent in Q3), the first gain in five quarters, as investment in machinery and equipment grew markedly (10.8 percent from 8.1 percent) while construction investment shrank much less (-1.7 percent from -5.9 percent). In contrast, government spending continued to slow (3.4 percent from 3.7 percent). Exports went up 2.5 percent, following a 2.7 percent rise in Q3 while imports advanced at a stronger 5.2 percent compared to a 2 percent increase in Q3.
On the production side, output continued to grow for: manufacturing (3.5 percent from 2.6 percent); utilities (5.4 percent from 3.8 percent); internal trade (4.7 percent from 4.6 percent); restaurants and hotels (2.1 percent from 1.5 percent); transportation (3.8 percent from 3.3 percent); information and communication (4.9 percent from 4.6 percent) and personal services (4.1 percent from 2.8 percent). In addition, production fell less for agriculture (-0.7 percent from -2.7 percent); construction (-0.1 percent from -5.3 percent) while activity recovered for business services (1.2 percent from -0.4 percent). On the other hand, output slowed for mining (6.8 percent from 8.3 percent), mainly due to lower production of copper (7.9 percent from 9.1 percent); financial services (3.3 percent from 5.1 percent) and real estate activities (2.3 percent from 2.9 percent).
On a quarterly basis, the GDP inched up 0.6 percent, after an upwardly revised 2.2 percent gain in the third quarter and slightly above market expectations of a 0.5 percent rise.
Considering whole 2017, the Chilean economy grew 1.5 percent compared to 1.3 percent in 2016. Still, growth was among the lowest since the 2009 global economic crisis.