In the first quarter of the year, total gross fixed capital formation grew by 1.2 percent (0.5 percent in Q4 2016), boosted by rising investment from non-financial corporations (1.9 percent from 0.9 percent in Q4) and households (1 percent from 0.9 percent in Q4) while government investment contracted (1.2 percent from -1.5 percent in Q4). Also public spending advanced 0.3 percent, the same as in the previous period, and household consumption rose 0.1 percent, slowing sharply from a 0.6 percent gain in Q4. Final domestic demand (excluding changes in inventories) contributed 0.4 points to GDP growth, down from 0.5 points in the prior quarter; and changes in inventories contributed 0.7 points (after -0.2 points in the prior three months).
The foreign trade balance contributed negatively to GDP growth (-0.7 points from +0.1 points in Q4), as exports declined by 0.8 percent (1 percent in Q4), while imports went up 1.4 percent (0.6 percent in Q4).
Year-on-year, the GDP grew by 1.0 percent, faster than a preliminary estimate of 0.8 percent but slower than a 1.2 percent growth in the previous period.