Average Earnings Index 3MoY (UK)
A Small Jump in UK Earnings During a Bearish Trend
Starts Wednesday, October 17, 2018 at 04:09
Updated Tuesday, October 16, 2018
Average earnings index kept growing last year and early this year in the UK and it reached 2.8% in January and February. But, the increase in earnings stared to decelerate after that and it has been slowing throughout the year. Although, we saw a small jump in the earnings report that was released last month when the actual number came at 2.6% against 2.4% expected. This month they are expected to remain unchanged but we might be set for another surprise. Please follow us for live coverage of this event and the impact it might have on the currency by experienced market analysts.
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About Average Earnings Index 3MoY (UK)
The average earnings index data shows the prices that British businesses and the UK Government pay for labor. This report also includes bonuses that employees receive. It is calculated and released by the UK Office for National Statistics. It is in the 3MoY format, which means that the average number of the last three months, as compared to the same period of the previous year. The data is presented as the change in the percentage of earnings between the two periods. This data is a late release because it is released 45 days after the month ends. Nonetheless, it is a leading indicator of consumer inflation CPI (consumer price index) since the higher the earnings are, the more likely the consumer is to spend. The CPI inflation is one of the main mandates of the Bank of England, so a positive number is good for the GBP.