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Real-time News
March 6, analyst Alexander Weber said that when it comes to inflation, the core mission of the European Central Bank, officials received some positive news this week. The price increase of the service industry, which they have been paying close attention to recently, fell below 3.9% for the first time since April. Wage growth also slowed in the fourth quarter. All this shows that the surge in inflation in recent years has almost had a chain reaction on the economy, which makes policymakers believe that the 2% inflation target can indeed be achieved in the coming months.The ECB will announce its interest rate decision in ten minutes.Sources: Baghdad meeting on restoring oil in Kurdish region fails to reach agreement.March 6, Dutch international economist Bert Colijn wrote in a report that the decline in eurozone retail sales in January contrasted with the significant increase in purchasing power. Eurozone retail sales are currently 0.6% lower than the peak in September last year. The weakness in sales is noteworthy given the rapid recovery of purchasing power. "Currently wage growth is far exceeding inflation, resulting in a rapid recovery in real wages. However, this has not yet translated into a strong rebound in consumption," Colijn pointed out. Consumer concerns about the economy and unemployment have increased over the past year. He concluded that although consumption growth is still expected to be achieved, for now, consumer uncertainty may lead to weak spending in the first quarter and continued sluggish GDP growth.Nvidia (NVDA.O) shares fell 3% in pre-market trading.
