Negotiated Wage Rates (QoQ)

Negotiated Wage Rates, published by the European Central Bank (ECB) on a quarterly basis, is a data designed for the purpose of estimating wage drift in the Euro area and it's considered to provide a useful statistical representation of contractual basic pay. A steady increase in this data could be seen as an inflationary development and influence the ECB to cling to a tight monetary policy, supporting the Euro, and vice versa.

Next event - Friday 21 November 2025 10:00

Previous
3.95%
Actual
-

The typical/expected market impact of this event is low.

Most recent - Friday 22 August 2025 09:00

Previous
2.38%
Revised
2.46%
Actual
3.95%

Trading range

Announcement history

The most recent announced value for Negotiated Wage Rates (QoQ) was 3.95%.

Past events

Date
Actual
Friday 22 August 2025 09:00
3.95%
Friday 23 May 2025 09:00
2.38%
Tuesday 25 February 2025 10:00
4.12%
Wednesday 20 November 2024 10:00
5.42%
Thursday 22 August 2024 09:00
3.55%
Thursday 23 May 2024 09:00
4.69%
Tuesday 20 February 2024 10:00
4.46%

Economic context

Recent economic data has been broadly neutral for EUR. Other recent announcements which may affect the market's interpretation of the next Negotiated Wage Rates (QoQ) result:

PreviousLatest
Consumer Confidence(no change)-14.2-14.2
Producer Price Index (MoM)Bullish change-0.1%0.1%
Producer Price Index (YoY)Bearish change-1.7%-1.8%
Core Harmonized Index of Consumer Prices (MoM)(no change)0.3%0.3%
Core Harmonized Index of Consumer Prices (YoY)(no change)2.4%2.4%
Harmonized Index of Consumer Prices (MoM)(no change)0.2%0.2%
Consumer Price Index (EU Norm) (YoY)(no change)1.3%1.3%
Consumer Price Index (YoY)(no change)1.2%1.2%
Employment Change (QoQ)(no change)0.1%0.1%
Gross Domestic Product s.a. (QoQ)(no change)0.2%0.2%
Gross Domestic Product s.a. (YoY)Bullish change1.3%1.4%
Harmonized Index of Consumer Prices (YoY)(no change)3.2%3.2%
Consumer Price Index (EU norm) (YoY)Bearish change0.9%0.8%
Industrial Production s.a. (MoM)Bullish change-1.1%0.2%
Harmonized Index of Consumer Prices (MoM)(no change)0.3%0.3%
Harmonized Index of Consumer Prices (YoY)(no change)2.3%2.3%
ZEW Survey – Current SituationBullish change-80-78.7
ZEW Survey – Economic SentimentBearish change39.338.5
ZEW Survey – Economic SentimentBullish change22.725
Sentix Investor ConfidenceBearish change-5.4-7.4
Trade Balance s.a.Bearish change€16.9B€15.3B

About Negotiated Wage Rates (QoQ)

Country:Eurozone
Currency:EUR
Source:European Central Bank
Category:Labor Market
Frequency:Quarterly
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