Euro-zone Hourly Labour Costs (Q1)

Average hourly labour cost growth slowed in Q1, and we expect wage growth to remain subdued over the coming years. This will keep underlying inflationary pressures down.
Jack Allen-Reynolds Senior Europe Economist
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European Data Response

EZ Unemployment (Oct.)

While labour market conditions continued to improve in October, the recent deterioration of the Covid situation and increased uncertainty due to the Omicron variant are likely to mean the recovery takes a breather over the next couple of months, just as it did when restrictions were in place at the start of 2021.

2 December 2021

European Economics Update

Macron on course to defeat far-right challengers

The confirmation earlier today that far-right pundit Eric Zemmour will stand in France’s presidential election next spring comes as no surprise given his rise in the polls. But French President Emmanuel Macron still looks on course to win a second term, defeating the far-right candidates and keeping France on a pro-European, reformist track. In this Update, we answer five key questions about the election.

30 November 2021

European Data Response

Euro-zone Flash HICP (Nov.)

November’s inflation data were yet another surprise on the upside. The Omicron variant has increased the level of uncertainty even further but for now we suspect that it will have a fairly small impact on inflation. Still, headline inflation looks set to remain above target until at least the end of next year.

30 November 2021

More from Jack Allen-Reynolds

European Data Response

Euro-zone Retail Sales (May)

Euro-zone retail sales rose back above their pre-pandemic level in May. And as Covid restrictions continue to be lifted, spending in the services sector is recovering very rapidly, which will provide a significant boost to household consumption and GDP.

6 July 2021

European Data Response

Euro-zone Flash PMIs (June)

The further strengthening of the euro-zone Composite PMI to a 15-year high in June underlines that the economy is rebounding quickly. Alongside this recovery, price pressures are continuing to build. But we still think that they will fade in 2022.

23 June 2021

European Economics Update

Is the ECB over-optimistic on growth?

The ECB made significant upward revisions to its GDP forecasts last week, presumably encouraged by the recent experience of other economies. The Bank also seems to have come round to our view that the pandemic will not leave deep, lasting scars on the economy.

15 June 2021
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