The slight quarter-on-quarter decline in the gross domestic product was mainly due to the development of foreign trade. According to provisional calculations, exports were down while imports were up in the third quarter. As regards domestic demand, there were mixed signals. While gross fixed capital formation both in machinery and equipment and in construction was higher than in the previous quarter, final consumption expenditure of households declined. Government final consumption expenditure was slightly higher than in the previous quarter.
Year-on-year, the economy expanded a calendar-adjusted 1.1 percent in the September quarter, following a 2 percent growth in the previous three-month period. On an unadjusted basis, the GDP grew by 1.1 percent, much weaker than a 2.3 percent advance in the June quarter.