Household consumption rose by 0.6 percent in the fourth quarter, following a 0.5 percent increase in the previous period. In addition, changes in inventories added 0.3 percentage points to GDP growth, while government spending growth slowed to 0.2 percent from 0.5 percent in the third quarter and gross fixed capital formation shrank 1.3 percent (vs 3.8 percent in Q3).
Net external demand contributed positively, as exports jumped 2.4 percent (vs 0.2 percent in Q3) while imports rose at a softer 1.2 percent (vs 1.4 percent in Q3).
On the production side, production of goods increased by 1.3 percent (vs 0.9 percent in Q3) and service-producing industries grew by 0.6 percent (vs 0.9 percent in Q3).
Employment, measured as the total number of hours worked, increased by 1.0 percent, seasonally adjusted and the total number of persons employed rose by 0.4 percent.
Year-on-year, the GDP rose by 3.3 percent after an increase of 2.9 percent in the third quarter, but slightly below market consensus of 3.4 percent.