In the December quarter, private consumption expanded 0.4 percent, rebounding from a 0.1 percent decline in the third quarter. Government spending also rose 10.2 percent, following a 5.8 percent contraction in the preceding quarter. Gross fixed capital formation went up 6.8 percent, after registering a 2.9 percent decline in the previous quarter. Exports of goods and services rose 0.1 percent, compared to a 0.4 percent rise in the previous three months. Imports of goods and services also increased by 3.6 percent, following a 1.2 percent rise in the prior quarter.
On the production side, manufacturing grew by 5.9 percent (from 0.4 percent in Q3), followed by financial intermediation (2.6 percent from 0.8 percent); wholesale and retail trade, repair of motor rose (2.4 percent from 1.1 percent) and agriculture (1.4 percent from -1.8 percent).
Year-on-year, the country's GDP expanded expanded 3.0 percent from a year earlier in the December quarter of 2016, compared to a 3.2 percent growth in the third quarter and in line with market expectations. It was the slowest expansion since the December quarter 2015.