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Despite slower GDP growth, strengthening wage growth bodes well for consumers.
Despite slower GDP growth, strengthening wage growth bodes well for consumers.
The Q2 Euro Area GDP report reaffirmed the picture of slower growth in 2018 as global trade provides less tailwind, starting 2019 on a much weaker note. External threats such as a possible escalation of the Turkish financial crisis and a no-deal Brexit remain on the horizon. However, wage growth is clearly picking up now, which bodes well for consumer demand.
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