ECB: Euro area’s negotiated wages increase by 3.55% YoY in Q2 2024 vs. 4.74% in Q1

Dhwani Mehta FXStreet

The European Central Bank (ECB) released its indicator of the Euro area’s negotiated wages data for the second quarter of 2024 on Thursday.

Data showed that the Euro area negotiated wages increased at an annual pace of 3.55% in Q2 2024 after rising 4.74% in the first quarter of this year.

Market reaction to the EU negotiated wages data

The slowdown in the EU negotiated wage growth checks gains in the Euro, as EUR/USD stalls its rebound to trade near 1.1140, 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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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