Bankinter | The ECB’s Wage Tracker shows an expected wage increase of 1.7% for the first half of 2026 against 2.1% in the second half of 2025 and 4.3% in the first half of 2025. Analysis team’s view: Good news for inflation in Europe. The ECB’s Wage Tracker is a tool developed by the ECB and the national central banks of the Eurosystem to monitor wage pressures in the euro…
Bankinter | Eurozone CPI was 2.1% year-on-year in August, while core CPI remained at 2.3% for the fourth consecutive month. The data was in line with expectations and reflects inflation virtually on target. Analysis team’s view: Although it rose by one tenth of a percentage point compared to the previous month, the important thing is that inflation has been stable for six months at levels close to the ECB’s target…
Bankinter | Car sales increased in July by 7.4% (year-on-year) compared to a drop of 7.3% in June. For the year as a whole, sales fell by 0.7%. Of particular note is the drop in sales of combustion vehicles (15.2% diesel and 12.0% petrol), while electric vehicles led the way (electric up by 39.1%, non-plug-in hybrids by 14.3% and plug-in hybrids by 56.9%). Analysis team’s view: Slightly positive news reflecting…
Link Securities | According to the final reading of the data released by the German Federal Statistical Office, Destatis, Germany’s gross domestic product (GDP) contracted by 0.3% in 2Q25 compared to the previous quarter, more than the 0.1% contraction initially estimated, which was in line with the consensus of FactSet analysts. In 1Q25, Germany’s GDP had grown by 0.3% in quarterly terms. The decline in 2Q25 is the sharpest quarterly…
Alphavalue / Divacons | The Spanish utility company, through its British subsidiary Scottish Power, has taken a decisive step forward in the commissioning of its East Anglia 3 offshore wind farm, located in the North Sea off the coast of Suffolk (United Kingdom). The company has completed the installation of the foundations for the project’s offshore substation. In other news, Iberdrola has appointed Juan Luis Pérez Martín, a lieutenant general…
CdM | The annual inflation rate in the eurozone was 2% in July 2025, stable compared to June. A year earlier, the rate was 2.6%. Annual inflation in the European Union was 2.4% in July 2025, up from 2.3% in June. A year earlier, the rate was 2.8%. These figures were published by Eurostat, the statistical office of the European Union. The lowest annual rates were recorded in Cyprus (0.1%),…
Link Securities | According to data published on Tuesday by the European Central Bank (ECB), the Eurozone current account balance recorded a surplus of €36 billion in June, an increase of €4 billion compared to the previous month. In June, surpluses were recorded in goods (€23 billion), services (€16 billion) and primary income (€14 billion). In seasonally adjusted terms, the current account surplus rose to €35.8 billion in June, from…
CdM | Industrial production in the Eurozone rose by 0.2% in June 2025, while in the European Union (EU) the increase was 0.5% compared to the same month last year. According to data from Eurostat, the EU’s statistical office, industrial production fell by 1.3% month-on-month in the eurozone countries, while the decline compared to May was 1% in the EU-27. In May 2025, industrial production had grown by 1.1% in…
CdM | Retail trade volume grew by 0.3% in June compared to the previous month in both the Eurozone and the European Union (EU), according to estimates published by Eurostat, the EU’s statistical office. The figure was below the expected 0.4%. In detail, in both the eurozone and the EU, sales rose by 0.2% in food, beverages and tobacco and by 0.6% for non-food products (excluding car fuel). Motor fuel…
CdM | The Eurozone manufacturing sector is regaining momentum, but with caution. At the start of the third quarter, operating conditions stabilised broadly, according to the PMI index. ‘With the new trade framework agreed between the EU and the US, uncertainty should ease and the signs point to a continued upward trend in the coming months.’ This is the view of Hamburg Commercial Bank, which comments that supply chains “remain…