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Real Gross Domestic Product: The 4th Quarter of 2009 (ADVANCE)
Real gross domestic product (chained volume measure of GDP) increased by 0.2 percent in the fourth quarter of 2009 compared with the previous quarter.
On the production side, the manufacturing sector decreased by 1.3 percent mainly due to a base effect.
The construction sector showed negative growth of 1.4 percent, which was attributable to a decrease in building construction.
Services rose by 1.0 percent, mainly led by growth in the transport & storage and financial intermediation sectors.
Real gross domestic income (GDI) rose by 1.6 percent compared to the previous quarter, reflecting improved terms of trade in the fourth quarter, with steeper price increases in for export goods than imported goods.
Growth Rates by Kind of Economic Activity (At chained 2005 year prices, S.A. series)
(Percent change from previous quarter)
2007 2008p 2009p
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Gross Domestic Product 1.3 1.3 1.1 0.4 0.2 -5.1 0.1 2.6 3.2 0.2
Agriculture,forestry&fishing 0.8 -2.9 5.8 0.8 0.6 -0.1 -0.1 -1.7 4.9 1.0
Manufacturing 2.5 2.4 1.2 1.7 0.1 -11.9 -3.4 8.9 9.8 -1.3
Electricity, gas & water 2.5 3.4 1.4 -2.8 4.5 -1.6 8.0 -6.3 9.2 -8.3
Construction 0.5 1.3 -1.4 -2.2 1.1 -4.2 5.9 -0.2 -0.5 -1.4
Services1) 1.1 1.2 0.8 0.1 0.5 -1.4 0.3 1.1 0.7 1.0
Gross Domestic Income 1.4 1.1 -1.7 1.0 -3.3 -2.2 0.1 5.4 0.7 1.6 Note : 1) Includes wholesale & retail trade, restaurants & hotels; transport & storage; financial intermediation;
real estate and renting; information & communication; business activities; public administration, defence & compulsory social security; education; health and social work; recreational, cultural and sporting; and other service activities
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On the expenditure side, private consumption recorded a negative growth rate of 1.4 percent owing to a decrease in expenditures on semi-durable goods while, among durables, purchases of automobiles maintained a positive growth rate.
Facilities investment increased by 4.7 percent, due to a rise in machinery investment. Construction investment, however, maintained the same level (0.0%) as the previous quarter.
Exports of goods decreased by 1.8 percent and good imports similarly shrank by 2.5 percent.
Growth Rates by Component of Expenditure (At chained 2005 year prices, S.A. series)
(Percent change from previous quarter)
2007 2008p 2009p
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
Gross Domestic Product 1.3 1.3 1.1 0.4 0.2 -5.1 0.1 2.6 3.2 0.2
Final consumption expenditure 0.8 0.5 1.1 0.2 0.2 -3.4 1.2 3.0 1.0 -0.7
(Private) 0.9 0.4 1.1 -0.2 0.0 -4.6 0.4 3.6 1.5 -0.1
(Government) 0.4 0.7 1.2 1.4 1.1 1.0 3.7 1.1 -0.8 -2.9
Gross fixed capital formation -1.1 3.1 -1.6 0.1 0.1 -6.5 -0.4 4.3 1.5 1.7 (Construction) -0.4 2.9 -2.5 -0.3 0.1 -3.0 5.2 1.7 -2.0 0.0 (Facilities investment) -3.0 3.8 -0.4 0.4 0.2 -14.2 -11.2 10.1 10.4 4.7 Exports of goods & services 1.7 6.5 0.0 2.7 -0.4 -8.9 -4.3 10.9 4.8 -1.9
(Goods) 1.5 7.1 -0.7 2.5 -0.9 -12.6 -3.4 14.7 5.2 -1.8
Imports of goods & services 0.6 5.6 -0.8 2.9 1.1 -14.2 -8.4 8.8 6.8 -0.8
(Goods) 0.3 5.9 0.1 3.0 1.2 -15.7 -6.2 7.4 8.6 -2.5
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Real GDP (chained volume measure of GDP) increased by 6.0 percent year-on-year in the fourth quarter of 2009.
On the production side, manufacturing showed a high growth rate and other sectors also maintained positive growth.
On the expenditure side, facilities investment shifted to a positive growth rate, and the scale of the increase in both private consumption and the export of goods widened considerably.
Growth Rates by Kind of Economic Activity and Component of Expenditure ( At chained 2005 year prices, original series)
(Percent change over previous year)
2008p 2009p
1Q 2Q 3Q 4Q Y 1Q 2Q 3Q 4Q Y
Gross Domestic Product 5.5 4.3 3.1 -3.4 2.2 -4.2 -2.2 0.9 6.0 0.2
Agriculture, forestry & fishing 7.4 4.4 4.2 6.4 5.5 1.5 -1.2 3.1 2.8 1.6
Manufacturing 9.1 8.4 5.6 -9.1 3.1 -13.6 -7.3 1.6 12.5 -1.8
Electricity, gas & water supply 8.3 3.9 6.2 1.4 5.1 8.1 4.0 8.7 1.4 5.7
Construction 0.8 -1.5 -1.0 -6.3 -2.4 0.4 2.2 0.7 3.8 1.9
Services1) 4.4 3.3 2.6 -0.1 2.5 -0.5 0.4 0.9 3.1 1.0
Final consumption expenditure 3.9 2.6 2.0 -1.9 1.6 -2.0 0.9 1.7 4.5 1.3
(Private) 4.0 2.3 1.4 -3.7 0.9 -4.4 -0.8 0.8 5.6 0.2
(Government) 3.6 4.0 4.5 4.7 4.2 7.3 7.1 5.0 0.9 4.9
Gross fixed capital formation -0.5 0.6 1.8 -7.3 -1.7 -8.1 -2.7 -0.8 6.4 -0.9
(Construction) -1.9 -0.3 0.2 -5.6 -2.1 1.6 3.7 2.7 3.9 3.1
(Facilities investment) 1.5 1.1 4.3 -14.0 -2.0 -23.5 -15.9 -7.4 12.9 -8.9 Exports of goods & services 11.0 11.5 9.3 -6.9 5.7 -10.6 -3.9 1.2 9.3 -1.0
(Goods) 11.1 10.9 8.5 -11.6 4.1 -14.1 -4.2 1.8 14.6 -0.6
Imports of goods & services 9.7 8.9 9.0 -11.2 3.7 -18.2 -13.7 -8.7 5.9 -9.0
(Goods) 11.8 10.0 10.6 -11.6 4.6 -17.4 -14.3 -7.9 6.7 -8.5
Gross Domestic Income 2.4 2.0 -2.6 -6.2 -1.2 -4.4 0.2 3.9 8.6 2.1
Note : 1) Includes wholesale & retail trade, restaurants & hotels; transport & storage; financial intermediation;
real estate and renting; information & communication; business activities; public administration, defence & compulsory social security; education; health and social work; recreational, cultural and sporting; and other service activities
