In the first quarter of 2020, the US GDP suffered a severe contraction when compared to the previous quarter, registering a y/y growth rate of -5.00%. This behavior was mainly due to the performance of both the external and internal demand, deeply affected by the containment measures carried out both locally and around the globe to contain the spread of the COVID-19 pandemic. The unemployment rate increased to a rate of 3.80%, while the employment growth rate fell when compared to the previous quarter, down to a growth rate of 0.64%. Inflation stood at 2.09%, after recording an increase when compared to the previous quarter. Regarding the US dollar, it slightly appreciated against the euro, to an average exchange rate of 1.10 $/€ during the first quarter of the year.
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