ECB: Euro area’s negotiated wages advance 4.12% YoY in Q4 2024 vs. 5.43% in Q3

On Tuesday, the European Central Bank (ECB) released its indicator of the Euro area’s negotiated wages data for the fourth quarter (Q4) of 2024.

Data showed that the Euro area negotiated wages grew 4.12% year-on-year (YoY) in Q4 2024 after increasing by a revised 5.43% in the previous quarter.

Market reaction to the EU negotiated wages data

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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.