Breaking News

U.K. Average Earnings ex Bonus

Latest Release

May 16, 2023

Actual

6.7%

Forecast

6.8%

6.6%

The Average Earnings Index is an indicator of wage rates that may ultimately lead to inflationary pressures. Bonuses are excluded because the mainly emanate from the City, so they are not broadly spread, and can be volatile. A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP.

Importance:

Country:

Currency: GBP

Source: Office for National Statistics

Release Date	Time	Actual	Forecast	Previous
Jun 13, 2023 (Apr)	07:00			6.7%
May 16, 2023 (Mar)	07:00	6.7%	6.8%	6.6%
Apr 18, 2023 (Feb)	07:00	6.6%	6.2%	6.6%
Mar 14, 2023 (Jan)	08:00	6.5%	6.6%	6.7%
Feb 14, 2023 (Dec)	08:00	6.7%	6.5%	6.5%
Jan 17, 2023 (Nov)	08:00	6.4%	6.3%	6.1%

News

Sterling rally running out of legs on drab UK outlook By Reuters - May 18, 2023

By Samuel Indyk LONDON (Reuters) - Sterling was falling back towards a three-week low against the dollar on Thursday, as investors remained cautious after the pound's recent rally, with the economy...

Economic data suggests UK rate rises could be put on hold By Proactive Investors - May 16, 2023

Proactive Investors - Today’s figures on the jobs market and average earnings suggest the Bank of England’s rate rising spree is beginning to take effect raising hopes that a peak in...

UK unemployment rate unexpectedly ticks higher By Sharecast - May 16, 2023

Sharecast - The unemployment rate rose to 3.9% from 3.8% a month earlier, versus expectations for it to be unchanged. The increase was largely driven by people unemployed for over 12 months, the ONS...

Analysis

Nothing in UK wage data that screams the need for another rate hike By ING Economic and Financial Analysis - May 16, 2023 1

Last month’s surprisingly strong UK wage growth figure was almost certainly a key driver behind last week’s Bank of England decision to raise interest rates further. This month though, the...

FX Daily: Choppy Trading By Chris Turner - Apr 18, 2023

FX markets continue to be buffeted by opposing forces and are struggling to define short-term trends. Despite some positive Chinese activity data, Asian currencies are not rallying, suggesting that...

Newsquawk Week Ahead: Highlights Include FOMC Minutes, U.K. CPI, RBNZ Decision By Ryan Anderson - Aug 12, 2022

MON: BoC Loan Officer Survey; Japanese GDP (Q2), Chinese Retail Sales & Industrial Output/Production (Jul), US NY Fed Manufacturing (Aug), NAHB Housing Market Index (Aug) TUE: RBA Minutes (Aug); UK...

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