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Macroeconomic outlook report: USA

Fourth quarter of 2019

In the fourth quarter of 2019, the US GDP remained constant when compared to the previous quarter, registering a y/y growth rate of 2.10%. This behavior was mainly due to the balance between the performance of the domestic demand and the external demand. The unemployment rate decreased to a rate of 3.50%, while the employment growth rate fell when compared to the previous quarter, reaching a growth rate of 1.18%. Inflation stood at 2.01%, which was higher than in the previous quarter. On the other hand, the US dollar remained constant against the euro, recording an average exchange rate of 1.11 $/€ during the fourth quarter of the year.

 

Macroeconomic overview

  • The US economy grew at a year-over-year rate of 2.10% during the fourth quarter of 2019, maintaining the same growth rate as in the previous quarter.
  • This performance was mainly due to the balance between the decrease in the domestic demand and the acceleration of the external demand.
  • With regard to the labor market, the unemployment rate decreased 0.10 p.p. with respect to the third quarter of 2019, reaching a rate of 3.50%. The year-over-year growth rate of employment fell by 0.08 p.p. compared to 3Q19, recording a rate of 1.18%.
  • The US dollar remained constant against the euro recording an exchange rate of 1.11 $/€ during 4Q19.
  • In 4Q19, inflation in the US stood at 2.01%, which was 0.21 p.p. higher than in the previous quarter.

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© 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.