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19th Aug 2024 10:20EurozoneDaily Monitor

  • Negotiated wage growth likely eased in Q2 even as compensation per employee probably held steady. 
  • Hourly labour cost data are the wild card; we doubt they will prevent an ECB cut in September... 
  • ...But early Q3 indicators, pointing to a rebound in wage growth, cast a shadow over a cut in October.

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Keywords for: 20 August 2024 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence