During the fourth quarter of 2018, Portugal's GDP experienced a deceleration of 0.45 p.p., reaching a year-over-year growth rate of 1.69%, mainly due to the behavior of the external sector. In terms of the labor market, the unemployment rate decreased over the previous quarter to 6.67%, while the y/y growth of employment decelerated from 3Q18 to a 1.89% rate. The euro depreciated against the dollar, registering an average exchange rate of 1.14 $/€. Lastly, inflation stood at 0.83%.
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