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15th Sep 2022 15:15Eurozone, Daily Monitor

  • Another rise in imports meant the EZ trade deficit widened further at the start of the third quarter.
  • We suspect net trade will be a drag on GDP growth in H2, but risks to this call are to the upside.
  • Hourly labour costs data confirm what we already know; real wages are falling in the EZ

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chinese goods deficit disposable income energy eu export orders exports france gdp growth global growth imports ism labour labour costs leading indicators manufacturing net trade new export orders non-energy goods q2 q3 real wages russia spain trade trade deficit u.s. wage growth wages winter

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Keywords for: 16 Sept 2022 Eurozone Monitor

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