During the third quarter of 2018, the Argentine economy accentuated its recession, falling at a rate of -3.54%. This was mainly due to the performance of domestic demand, which fell at a year-over-year rate of -8.16% after decelerating all its components. As for the labor market, the unemployment rate was 0.60 p.p. lower than the previous quarter, standing at 9%, while employment fell to a rate of -0.11%, representing a deceleration of 1.63 p.p. over the previous quarter. The peso depreciated against the dollar by 8.63 pesos per dollar with respect to 2Q18, recording an average exchange rate of 32.11 $ARS/USD during 3Q18. Finally, inflation stood at 35.39%, after accelerating by 8.30 p.p. with respect to 2Q18.
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