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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

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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