On a quarterly basis, household spending expanded 0.6 percent, slowing from a 0.7 percent gain in the previous period and gross fixed capital formation edged up 0.1 percent, following a 1.1 percent rise in the second quarter. Investment in equipment and goods went up 0.3 percent (+1.9 percent in Q2) and construction increased 0.2 percent (+0.5 percent in Q2) while intellectual property shrank 0.7 percent (+1.3 percent in Q2). Meanwhile, government spending rebounded sharply by 1 percent, the fastest since the first quarter of 2015, following a 0.6 percent contraction in the second quarter.
Net external demand contributed positively, as exports fell 1.3 percent (+3.1 percent in Q3), while imports declined at a much faster 1.8 percent (+2 percent in Q2).
On a yearly basis, the economy expanded 3.2 percent, down from 3.4 percent in the second quarter but matching preliminary estimates.