In the fourth quarter of 2019, UK GDP slowed by 0.19 p.p. year-on-year to 1.06%. As for the labor market, the unemployment rate decreased with respect to 3Q19, registering a rate of 3.80%. The year-on-year growth rate of employment accelerated to 1.03%. The pound sterling depreciated against the dollar and stood at an average exchange rate of 1.29 $/£. Finally, inflation was 1.43%, 0.40 p.p. lower than in the previous quarter.
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