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 20 February 2026 10:00

Previous
1.87%
Actual
-

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

Most recent - Friday 21 November 2025 10:00

Previous
3.95%
Revised
4.01%
Actual
1.87%

Trading range

Announcement history

The most recent announced value for Negotiated Wage Rates (QoQ) was 1.87%.

Past events

Date
Actual
Friday 21 November 2025 10:00
1.87%
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
ZEW Survey – Current SituationBullish change-72.7-65.9
ZEW Survey – Economic SentimentBearish change59.658.3
ZEW Survey – Economic SentimentBearish change40.839.4
Harmonized Index of Consumer Prices (MoM)(no change)-0.1%-0.1%
Harmonized Index of Consumer Prices (YoY)(no change)2.1%2.1%
Industrial Production s.a. (MoM)Bearish change0.3%-1.4%
Employment Change (QoQ)(no change)0.2%0.2%
Gross Domestic Product s.a. (QoQ)(no change)0.3%0.3%
Gross Domestic Product s.a. (YoY)(no change)1.4%1.4%
Harmonized Index of Consumer Prices (YoY)Bearish change2.5%2.4%
Sentix Investor ConfidenceBullish change-1.84.2
Industrial Production n.s.a. w.d.a. (YoY)Bearish change0.5%-0.6%
Industrial Production s.a. (MoM)Bearish change0.2%-1.9%
Trade Balance s.a.Bullish change€13.6B€17.1B

About Negotiated Wage Rates (QoQ)

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