During the third quarter of 2019, the Argentine economy slowed down, registering a year-over-year rate of -1.71%, which was -1.71 p.p. lower than in the previous quarter. This was due to the deceleration of the demand of Argentinian assets and the devaluation of the local currency. In the labor market, the unemployment rate fell 0.90 p.p. from the previous quarter to 9.70%, while the year-over-year growth rate of employment rose 0.76 p.p. from the previous quarter to -0.83%. In terms of prices, inflation stood at 53.30%, following a deceleration of 2.03 p.p. from the previous quarter. Finally, the Argentine peso depreciated to 50.59 pesos per dollar.
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