By economic activity, manufacturing went up a sound 6.6 percent, well above the 3.2 percent growth in the previous quarter. Services (+2.4 percent vs 1.9 percent) also gained steam in the third quarter. In contrast, construction advanced at a 7.0 percent pace in the three months to September of 2017, moderately below the 7.7 percent expansion of the previous quarter. It was the second straight quarterly slowdown. Utilities also lost steam in the third quarter (+1.5 percent vs 2.5 percent).
On the expenditure side, government consumption expanded further in the third quarter (4.6 percent vs 3.1 percent), while private spending rose to a 2.5 percent growth (vs 2.3 percent in the previous three months). In contrast, gross fixed capital formation lost steam for a second straight quarter, rising 9.2 percent after a 9.6 percent advance in Q2: construction and facilities grew less, while intellectual property products expanded at a faster clip. Meanwhile, exports advanced 5.0 percent (vs 0.0 percent in Q2) and imports 8.5 percent (vs 6.4 percent).
On a quarterly basis, the economy expanded 1.5 percent, also upwardly revised from the 1.4 percent preliminary figure and from the 0.6 percent expansion for the previous quarter.