ECB: Euro area’s negotiated wages rise by 5.42% YoY in Q3 2024 vs. 3.54% in Q2
On Wednesday, the European Central Bank (ECB) released its indicator of the Euro area’s negotiated wages data for the third quarter of 2024.
Data showed that the Euro area negotiated wages accelerated at an annual pace of 5.42% in Q3 2024 after growing by a revised 3.54% in the second quarter of this year.
Market reaction to the EU negotiated wages data
The sudden pick up in the EU negotiated wage growth fails to offer any support the Euro, as EUR/USD flirts with intraday lows near 1.0550, as of writing.
About ECB indicator of negotiated wage growth
The ECB indicator of negotiated wage growth is computed for a subset of countries only. The euro area aggregate is based on nine countries: Germany, France, Italy, Spain, the Netherlands, Belgium, Finland, Austria and Portugal. The indicator relies on data for negotiated monthly earnings. The euro area indicator is based on a mixture of monthly and quarterly time series and is based on non-harmonised country data.
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