In the first quarter of 2020, UK GDP registered a contraction in its year-on-year growth down to -1.60%. As for the labor market, the unemployment rate increased with respect to 4Q19, registering a rate of 3.93%. The year-on-year growth rate of employment accelerated to 1.37%. The pound sterling depreciated against the dollar and stood at an average exchange rate of 1.28 $/£. Finally, inflation was 1.67%, 0.24 p.p. higher than in the previous quarter.
For more information, click here to access the executive document in pdf.
© GMS Management Solutions, S.L., 2020. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.