Household spending slowed sharply (0.1 percent compared to 1.1 percent in Q3). Also, exports shrank 0.9 percent, following a 3.3 percent jump in Q3, marking the biggest drop in five quarters. Imports rose at a softer 1.6 percent after a 6.5 percent surge in Q3. On the other hand, gross fixed capital formation went up 2 percent after a 1.8 percent rise in Q3. It is the biggest increase since the second quarter of 2013. Also, government expenditure went up 0.2 percent, the first increase in seven quarters.
Year-on-year, the economy advanced 2.1 percent, higher than 1.4 percent in Q3 and the strongest annual growth since the first quarter of 2014.
Considering full 2017, household spending went up 1 percent (-4.3 percent in 2016), the first increase since 2014; exports rose 5.2 percent (1.9 percent in 2016), the most since 2015, mainly boosted by products of agriculture, oil and gas, automotive industry and machinery and equipment; imports grew 5 percent (-10.2 percent in 2016), the first increase in 4 years amid purchases of petroleum refining, electronic materials and communication and clothing. On the other hand, gross fixed capital formation slumped for the fourth year (-1.8 percent compared to -10.3 percent in 2016), dragged down by a 5.6 percent decline in construction that offset a 3 percent gain in machinery and equipment. Public expenditure declined for the third consecutive year (-0.6 percent compared to -0.1 percent in 2016).