During the second quarter of 2019, Italian GDP decelerated by 0.05 p.p. its year-over-year growth rate, to 0.07%. This performance was mainly due to lower growth in domestic demand, which decelerated by 0.09 p.p. to 0.75%. In the labor market, the unemployment rate fell compared to the first quarter of 2019 to 9.93 %, while the year-over-year rate of employment creation slowed by 0.06 p.p. to 0.52%. With regard to the exchange rate, the euro depreciated against the US dollar compared to the previous quarter, recording an average exchange rate of 1.13 $/€ during the first quarter of the year. Finally, inflation decelerated to 0.85%.
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