On the expenditure side, fixed investment jumped 7.27 percent, after a 7.08 percent growth in the previous period, and household consumption rose 4.97 percent, compared with 4.93 percent. Also, government spending went up 3.81 percent, from a 3.48 percent gain in the preceding three-month period. Meanwhile, exports advanced 8.50 percent (17.01 percent in Q3) while imports increased at a faster 11.81 percent (15.46 percent in Q3).
On the production side, output growth accelerated for: water and waste management (5.53 percent from 4.82 percent in Q3); construction (7.23 percent from 6.98 percent); education (5.89 percent from 3.62 percent); information and communication (8.99 percent from 8.82 percent); real estate (3.73 percent from 3.60 percent); and government administration (6.95 percent from 0.69 percent).
On the other hand, output increased at a slower pace for: agriculture (2.24 percent from 2.77 percent in Q3); mining and quarrying (0.08 percent from 1.84 percent); transport and storage (8.21 percent from 8.88 percent); electricity and gas (2.27 percent from 4.88 percent); manufacturing (4.46 percent from 4.85 percent); wholesale and retail trade (4.47 percent from 5.20 percent); finance and insurance (3.85 percent from 6.16 percent); business services (9.25 percent from 9.37 percent); healthcare (6.31 percent from 7.51 percent); hotels and restaurants (5.49 percent from 5.69 percent); and other services (8.87 percent from 9.31 percent).
Considering 2017 full year, the economy expanded by 5.07 percent, compared with 5.03 percent in 2016 and slightly above market consensus of 5.06 percent. It was the strongest growth rate since 2013, when the GDP rose by 5.56 percent. For 2018, the government is targeting economic growth of 5.4 percent, while the central bank has forecast a range of 5.1-5.5 percent.