During the first quarter of 2019, the Argentine economy continued to fall, registering a year-over-year rate of -5.77%, although this was 0.44 p.p. slower than in the previous quarter. This was due to the behavior of domestic demand, which continued to contract, but at a less pronounced pace than during the previous quarter. In the labor market, the unemployment rate rose by 1 p.p. from the previous quarter to 10.10%, while the year-over-year growth rate of employment fell by 0.47 p.p. from the previous quarter to -1.85%. In terms of prices, inflation stood at 51.77%, after an acceleration of 4.43 p.p. with respect to the previous quarter. Finally, the Argentine peso continued to depreciate to 39.06 pesos per dollar.
For more information, click here to access the executive document in pdf (only avalaible in Spanish).
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