Gross Domestic Product in the 4th quarter of 2018. Preliminary estimate
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Gross domestic product (GDP) in the 4th quarter of 2018 was higher by 4.9% year-on-year comparison against 5.0% in the corresponding quarter of 2017 (constant average prices of the previous year)
In the 4th quarter of 2018 seasonally adjusted gross domestic product (GDP) (constant prices, reference year 2010) was higher by 0.5% than in the previous quarter and 4.6% higher than in the 4th quarter of the previous year.
Seasonally unadjusted GDP (constant average prices of the previous year) was higher by 4.9% than in the corresponding quarter of the previous year.
In the 4th quarter of 2018 the economic growth came mainly from domestic uses which growth was 4.8% compared with a year earlier and it was lower than in 3rd quarter of 2018 (the growth 6.2%). It resulted from significantly weaker than in the 3rd quarter 2018 increase in gross capital formation by 6.2% (against 14.6% in the 3rd quarter of 2018). Final consumption expenditure grew at the same rate as in the 3rd quarter 2018, i.e. by 4.2%. Consumption expenditure in the households sector rose by 4.3% than a year earlier and it was weaker than in the 3rd quarter of 2018 (the growth of 4.5%). The growth rate of gross fixed capital formation amounted to 6.7%. As a result, the contribution of domestic uses to economic growth was +4.7 percentage points (against +6.0 percentage points in the 3rd quarter of 2018). It came from the positive influence of final consumption expenditure which was +3.0 percentage points (against +3.3 percentage points in the 3rd quarter of 2018), of which the impact of the consumption expenditure in households sector +2.2 percentage points and public consumption expenditure +0.8 percentage points (+2.7 and +0.6 percentage points in the 3rd quarter of 2018 respectively). The impact of gross fixed capital formation amounted to +1.7 percentage points, similarly as in the 3rd quarter of 2018. Changes in inventories was neutral (0.0.percentage points). Consequently positive influence of gross capital formation on economic growth approaching +1.7 percentage points (against +2.7 percentage points in the 3rd quarter of 2018). In the 4th quarter of 2018 the positive impact of the net exports to economic growth was noted which amounted to +0.2 percentage points (against -0.9 percentage points in the 3rd quarter of 2018).
