During the last quarter of 2018, the United States recorded a GDP deceleration of 1.20 p.p. compared to the previous quarter, registering a y/y growth rate of 2.20%. This performance was mainly due to the behavior of domestic demand, which decelerated 3.10 p.p. down to a rate of 2.20%. With respect to the labor market, the unemployment rate remained constant at 3.80%. Inflation for the period was 2.21%, after decreasing by 0.40 p.p. with respect to the third quarter, while the dollar appreciated against the euro, recording an average exchange rate of 1.14 $/€ during the fourth quarter of the year.
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