International Markets – WORLD – World Journal of Economics
international marketsIn 2022, when the European Central Bank decided to raise interest rates historically, inflation in the euro area fell to single digits.In 2022, when the European Central Bank decided to raise interest rates historically, inflation in the euro area fell to single digits. While consumer prices in the Eurozone declined 0.3% m/m in December, they recorded a negative trend and rose 9.2% y/y, below expectations. The latest figures show the Eurozone ended 2022 digital inflation . The main indicators, on the other hand, showed an upward movement in December, albeit limited. Factory orders in Germany, Europe’s largest economy, fell 5.3% in November, beating expectations. The decline was mainly due to a reduction in foreign orders from the euro area. On the last trading day of the week, data on employment in the non-farm sector of the US economy for December were published. With the growth of non-agricultural employment in the country in December by 223 thousand people, the unemployment rate fell by 3.5%. Critical for the Fed’s inflation figures, the increase in average hourly earnings remained below expectations and increased by 0.3% compared to the previous month, on an annualized basis, there was an increase in average hourly earnings by 4.6%. The data pointed to strong labor demand in line with leading indicators. Critical for inflation indicators, the growth of average hourly earnings turned out to be lower than expected. The lowering of the wage front effectively bolstered expectations for a Fed slowdown.
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