During the second quarter of 2018, China's GDP slowed its year-over-year growth rate by 0.10 p.p. when compared to the previous quarter, to 6.70%. This performance was mainly due to the trade tensions on the international scene, with a negative contribution from net exports. As for inflation, CPI growth decelerated by 0.34 p.p. when compared to 1Q18, to 1.83%. In the labor market, the unemployment rate fell by 0.06 p.p. to 3.83%. Finally, the renminbi depreciated against the US dollar by 0.29 RMB/USD, to an average exchange rate of 6.61 RMB/USD in the second quarter of the year.
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