Year-on-year, household consumption rose 5.25 percent, after increasing 5.48 percent in the previous quarter. Government consumption decelerated to 6.25 percent (8.82 percent in the previous three-month period). Exports jumped 7.4 percent, faster than a 5.3 percent rise in the previous quarter, while imports contracted 0.6 percent. While gross fixed capital formation slowed to 4.37 percent, inventories shrank by 8.63 percent.
Compared with the previous quarter, the GDP contracted 1.42 percent. A surge in government spending (34.18 percent) was not enough to offset a sharp drop in inventories (-127.16 percent). Yet, the GDP typically falls on a quarter-on-quarter basis in the last quarter of the year.
For full 2013, the economy advanced 5.78 percent, the slowest full-year growth since 2009.