Households’ consumption expenditure rose 0.3 percent (after 0.0 percent), preliminary report showed. Government expenditure also expanded by 0.4 percent, accelerating from a 0.3 percent growth in the preceding quarter. Total gross fixed capital formation grew by 0.1 percent, after a 0.1 percent contraction in the June quarter. Final domestic demand (excluding changes in inventories) accelerated, contributing +0.3 points to GDP growth (after +0.1 points in Q2 2015).
Exports declined by 0.6 percent, reversing from a 1.9 percent expansion in the previous quarter. Imports grew 1.7 percent, accelerating from a 0.5 percent growth in the second quarter of 2015. The foreign trade balance contributed negatively to the economy (-0.7 points after +0.4 points in the previous quarter). In contrast, changes in inventories contributed positively: +0.7 points after -0.4 points in the June quarter.
Year-on-year, the GDP grew 1.2 percent in the third quarter, remaining steady from the previous period.