During 2Q20, Germany´s GDP registered a significant decrease in its y/y growth rate, which stood at -11.26%. This decrease was due to the decrease in both external and internal demand, heavily affected by the containment measures carried out to contain the spread of the virus throughout most of the second quarter. The German labor market recorded an increase in the unemployment rate with respect to the previous quarter, registering a rate of 4.17%. On the other hand, the y/y growth rate of employment decreased from 0.30% during 1Q20 to -1.25% during 2Q20. Inflation registered a rate of 1.34%, decelerating when compared to the rate registered during 1Q20. Finally, during the second quarter of 2020, the average $/€ exchange rate remained constant with respect to 1Q20 at 1.10 $/€.
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