March 9, 2017 / 11:05 AM / 10 months ago

Iceland Q4 GDP rises 11.3 pct yr/yr, fastest since financial crisis

COPENHAGEN, March 9 (Reuters) - Iceland’s gross domestic product rose at its fastest pace since before the financial crisis, preliminary data for the fourth quarter 2016 from the Icelandic statistics office showed on Thursday.

GDP expanded 11.3 from the same period the previous year, compared to a revised 9.6 percent increase in the third quarter.

On a seasonally adjusted basis, Iceland’s GDP rose 2.6 percent from the previous three months, the data also showed.

The statistics office said household consumption grew percent, government consumption by 1.7percent and gross fixed capital formation by 18.6 percent from a year earlier.

For the full year, the economy expanded 7.2 percent after 4.1 percent growth the previous year. (Reporting by Nikolaj Skydsgaard; Editing by Simon Johnson)

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