Household spending advanced 0.5 percent, following a 0.1 percent gain in the last three months of 2017. Exports rebounded (1.3 percent compared to -0.8 percent in Q4) and imports rose faster (2.5 percent compared to 1.6 percent). On the other hand, investment increased at a slower 0.6 percent (2.1 percent in Q4) and government spending declined 0.4 percent after a 0.1 percent gain in the previous period.
Year-on-year, the economy advanced 1.2 percent, well below 2.1 percent in the previous period and market expectations of 1.3 percent. It is the lowest annual growth rate since the second quarter of 2017.