Preliminary estimates for the last quarter of 2014 came better than market expectations. The GDP growth accelerated to 0.7 percent, following a 0.5 percent expansion reported in the second and third quarter. The economy grew the most since the third quarter of 2007.
On a year-on-year basis, the GDP expanded 2 percent, up from a 1.6 percent growth in the preceding quarter and the strongest since mid-2008.
Considering full 2014, the GDP grew 1.4 percent, rebounding from a 1.2 percent contraction in 2013.