Year-on-year, the GDP expanded 1.9 percent in the first quarter of 2014, slowing from a 3.1 percent increase in the previous quarter.
On the expenditure side, household consumption increased by an annual 2.1 percent and general government expenditure rose 1.4 percent yoy. Changes in inventories decreased the GDP growth by 0.1 percentage points, but gross fixed capital formation increased by 7.7 percent. Exports were up 3.0 percent yoy while imports increased 5.2 percent.
Market production of goods and services increased 2.3 percent. Production of goods rose by 0.3 percent and service-producing industries increased by 3.4 percent. Employment measured as the total number of hours worked rose by 2.3 percent and the number of persons employed rose 1.0 percent.