Household spending slowed (0.3 percent compared to 0.5 percent in Q3) while government expenditure rebounded (0.3 percent compared to -0.1 percent in Q3) and gross fixed capital formation rose faster (0.9 percent compared to 0.1 percent in Q3). In addition, exports jumped 1.8 percent (1.2 percent in Q3) while imports contracted 0.2 percent (+0.3 percent in Q3).
On the production side, market production of goods and services increased by 1.1 percent: production of goods increased by 0.4 percent and services grew by 1.4 percent. Employment measured as the total number of hours worked increased by 0.3 percent and the number of persons employed increased by 0.6 percent.
On a yearly basis, the GDP expanded 2.3 percent, slightly below a downwardly revised 2.4 percent growth in the previous period and market expectations of 2.4 percent. Considering full 2016, the economy grew 3.3 percent.