ING THINK
Wage outflows have moderated on the backdrop of composition effects but still remain strong. Real wages have fallen for 11 consecutive months, and even after a turnaround, the impact on consumption will be limited.
ING THINK
Wage outflows have moderated on the backdrop of composition effects but still remain strong. Real wages have fallen for 11 consecutive months, and even after a turnaround, the impact on consumption will be limited.