Based on preliminary figures, Statistics Netherlands has reported that collective labor agreement wages rose by an average of 2.5% in 2019. This is the highest increase since 2009. In 2018, the growth in collective labor agreement wages was 2.0%. In an explanation of the figures from Statistics Netherlands, the Netherlands Bureau for Economic Policy Analysis stated that it expects that the growth in collective labor agreement wages will increase further to 2.8% in 2020. The main reason for the strong increase is the persistent shortage on the labor market.
US President Donald Trump has announced that the so-called “phase 1” trade agreement between the US and China will be signed in the White House on January 15. Part of the agreement includes a reduction in part of the import duties that the two countries imposed on each other in the past year. Trump will travel to China at a later date to negotiate a second part of the trade agreement.
Figures from research firms Markit and Caixin show that activity in the Chinese industry increased at a lower rate in December 2019 than in the previous month. The purchasing managers index fell from 51.8 in November to 51.5 in December. A level above 50 indicates growth. It is the fifth month in a row that growth is being reported.
The 6M Euribor is unchanged at -0.33% compared to previous business day. The 10Y Swap is unchanged at 0.21% compared to previous business day.
In the attachment, today’s market data on money and capital market rates as well as other rates are presented.
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