Iceland's economy expanded at a slower pace in the fourth quarter of 2012, the latest figures from Statistics Iceland showed Friday.
The gross domestic product rose 1.4 percent year-on-year in the fourth quarter, slower than the 2.2 percent expansion in the third quarter.
A detailed breakdown of data revealed that consumer spending increased 2.7 percent during the period and government spending rose 0.5 percent. Investment, on the other hand, slid 23 percent compared to the same period of the previous year.
At the same time balance of trade in goods and services improved, with exports growing 1.8 percent and imports decreasing 5.6 percent.
On a quarterly basis, GDP rose 0.5 percent, decelerating from 4.8 percent expansion in the third quarter.
For the year 2012, GDP increased 1.6 percent. However, the pace of growth was weaker than 2.9 percent expansion on 2011.
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