Canada Weekly Earnings Growth Accelerates Further đ
Average weekly earnings of non-farm payroll employees in Canada rose by 5.3% year-on-year to $1,284.43 in October 2024, the fastest pace since March 2021, with notable increases in finance and insurance, wholesale trade, and professional, scientific and technical services.
The strong year-over-year growth in average weekly earnings across various sectors in Canada, particularly in finance, insurance, wholesale trade, and professional services, suggests an overall positive economic environment. This could have a moderate positive impact on the investment portfolio, as it indicates increased consumer spending power and potential growth in related industries and asset classes.
Poland Corporate Wage Growth Beats Forecasts đ
Poland's corporate sector wages increased by 10.5% year-on-year in November 2024, exceeding market expectations and continuing the upward trend.
The strong wage growth in Poland's corporate sector suggests an overall positive economic environment, which could benefit the portfolio's exposure to European and emerging market equities. However, the impact is moderate as the portfolio's exposure to the Polish market is limited to 1% each in the UAE and Kuwait markets.
Euro Area Wage Growth Slows in Q3 âšī¸
Wage growth in the Eurozone slowed to 4.4% year-on-year in Q3 2024, the lowest so far this year, with decelerations in industry, construction, and services sectors, as well as in Germany and France, but an acceleration in Spain and Italy.
The slower wage growth in the Eurozone could have a moderate impact on the investment portfolio, as it may indicate a potential slowdown in economic activity and consumer spending. However, the mixed performance across different sectors and countries suggests a more nuanced picture, with some areas still showing relatively strong wage growth. The overall neutral impact assessment reflects the need to further analyze the broader economic implications and how they may affect the specific investments in the portfolio.