ECB: Euro area’s negotiated wages rise 4.50% in Q4 2023 vs. 4.70% in Q3

The European Central Bank (ECB) published its indicator of the Euro area’s negotiated wages data for the final quarter of 2023 on Tuesday.

Data showed that the Euro area negotiated wages grew 4.50% in Q4 2023, slowing from a 4.70% increase seen in the third quarter.

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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.