During 1Q20, Peru's Gross Domestic Product registered a year-over-year growth rate of -3.39%. This performance was mainly due to the poor behavior of internal and external demand, which were heavily affected by the containment measures carried out around the globe to mitigate the spread of the Covid-19 virus. Regarding the labor market, the unemployment rate increased with respect to 4T19, up to 7.06%. The year-over-year growth rate of employment creation in Peru accelerated when compared to the previous quarter up to 1.63%. The Peruvian Sol depreciated against the dollar when compared to the previous quarter, registering an exchange rate of 3.40 S/$. Furthermore, the inflation rate decreased in 1Q20 down to 1.87%.
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