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.