During the second quarter of 2019, the year-over-year growth of Spanish GDP decreased by 0.12 p.p. to 2.25%. Domestic demand drove GDP performance this quarter. In the labor market, the unemployment rate decreased by 0.68 p.p. compared to the previous quarter, to 14.02%. On the other hand, employment registered a year-over-year growth of 2.38% during this quarter, 0.78 p.p. lower than in 1Q19. In terms of prices, inflation stood at 0.90%, after a quarterly decline of 0.23 p.p. Regarding the exchange rate, the euro depreciated against the dollar in 2Q19, standing at an average rate of 1.13 $/€.
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