Exports of goods and services expanded by 0.7 percent, following a 0.2 percent contraction in the previous period, and imports increased at a slower 0.5 percent, compared to a 0.1 percent growth in Q2.
Although fixed investment increased at a faster 1.2 percent (from +0.3 percent in Q2), total consumption expenditure advanced by only 0.6 percent, from 0.7 percent growth in the previous period. Government consumption dragged the expansion down, as it expanded at a slower 0.6 percent (from +0.7 percent in Q2); while household consumption went up at the same pace as in the previous period (+0.7 percent in Q2).
Year-on-year, the economy expanded by 3.5 percent, up from 3.3 percent growth in the previous quarter and beating preliminary estimates of 3.4 percent, as private consumption grew at a faster 3.1 percent (+3 percent in Q2). Meanwhile, fixed investment advanced by 4.6 percent, slowing from a 6.4 percent growth in the previous quarter.