UPDATE 1-Chile's economy grew 1.5 pct in 2017, weakest in years

(Recasts to emphasize poor 2017 GDP growth despite strong fourth quarter)

SANTIAGO, March 19 (Reuters) - Chile's gross domestic product grew 1.5 percent in 2017, slightly below expectations and its worst performance in nearly a decade as investment contracted in the world's top copper producer, the central bank said on Monday.

Despite sluggish full-year performance, the economy grew 3.3 percent in the fourth-quarter of 2017 compared with a year earlier, its strongest quarter of the year, boosted by an increase in construction and manufacturing, the bank said in report.

(Reporting by Dave Sherwood Editing by Nick Zieminski)