In the first quarter of 2019, the y/y growth rate of Colombian GDP stood at 2.29%, 0.45 p.p. lower than in the previous quarter. The slowdown in domestic demand, together with the worst performance of the external sector, led to this reduction in economic growth. In the labor market, the unemployment rate rose by 0.33 p.p. from the previous quarter to 10.47%, while the year-over-year growth rate of employment creation accelerated to 0.52%. With respect to the exchange rate, the Colombian peso stood at 3,137 Colombian pesos per dollar, after an appreciation of 94 pesos per dollar. Finally, inflation reached 3.12%, down 0.14 p.p. from the previous quarter.
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