Private expenditure grew 4.3 percent thanks to broadly favourable job and income conditions, but slowing from a 6.1 percent rise in the previous quarter. Government spending rose at a slower 2.6 percent (3.3 percent in the second quarter).
In contrast, gross fixed capital formation contracted 6.5 percent, after rising 5.2 percent in the previous period amid a rather austere external environment. Weak external demand dragged exports of goods down (-3.2 percent compared to -3.6 percent in the previous period) while imports fell 4.1 percent (-3.2 percent in the previous period).
On a quarterly basis, the economy expanded 0.9 percent, the highest growth rate in a year.