Household spending increased 5.7 percent, recovering from a 1.7 percent fall in the previous period and gross fixed capital formation jumped 2 percent, compared to a 0.5 percent rise in the previous quarter. Exports went up 2.3 percent, rebounding from a 9.3 percent contraction in the third quarter and imports rose faster by 3.3 percent (2.1 percent in Q3). In contrast, public expenditure slowed (0.8 percent from 5.6 percent in Q3).
Considering full 2016, the GDP grew 2.9 percent, above expectations of 2.2 percent but well below 6.1 percent in 2015. Household spending (2.3 percent from 5.5 percent) and gross fixed capital formation (3 percent from 9.2 percent) slowed sharply and exports shrank 2 percent, following a 4.2 percent rise in 2015. In contrast, imports rose faster (3.9 percent compared to 1.7 percenbt) and public expenditure advanced more (7.3 percent compared to 4.1 percent).