The Wage Momentum in the Eurozone
Wage dynamics are changing within the Eurozone. In September, the increase in the salary rate, as measured by the job search site Indeed, was only 3.6% compared to 5.1% at the…
Philippe Waechter's blog
Employment – key to the European cycle momentum
The pace of economic activity in the euro area will depend on the profile of the labor market.Three starting points:1 – Surveys suggest that businesses and households are rather pessimistic. The results are everywhere below…
Inflation slows sharply in the euro area in September
The inflation rate in the euro area stood at 4.3% in September compared to 5.3% in August. This is the lowest figure since October 2021. The underlying inflation rate was 4.55% compared to 5.3%…
Germany is struggling
The German economy will be in recession this year. The GDP figures go in this direction and the cyclical indicators do not give any signals contrary to it. Yet Germany was on…
The energetic counter-shock in Europe
The coming rapid slowdown in inflation will be the break that will boost the economic cycle in Europe. I emphasized this point last week. This new dynamic is due to…
The Euro Area creates more jobs than in the US. Is it efficient ? What about France and its specific labor market ?
Employment is growing in the Eurozone and activity is growing rapidly despite the crisis in Ukraine. However, the room for manœuvre in the management of the economy is limited. Very…
The ECB new strategy
The ECB is changing course. With its interest rate hike scheduled for 21 July, the ECB is putting an end to a long period of very low and stable interest…
The return of the missing link in Spanish growth
Activity in Spain has been severely penalized by the pandemic. Tourists stayed home and the economy suffered. In April, the dynamics are changing giving Spain back the ability to recover…