"All in all, the rising competitiveness of Chinese exports poses significant challenges for EA labour markets. While at the moment the impact is concentrated in sectors such as vehicles and chemicals, the broader implications might extend to nearly one-third of EA employment"

« Revisions for May and June were larger than normal. The change in total nonfarm payroll employment.for May was revised down by 125,000, from +144,000 to +19,000, and the change for June was revised .down by 133,000, from +147,000 to +14,000. With these revisions, employment in.

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"Using the post-COVID inflation episode in the euro area as a case study, we find that an explicit ”looking-through” strategy would have only modestly increased de-anchoring risks.". Managing the risks of inflation expectation de-anchoring - ECB Research.

THE ECB BLOG. China-US trade tensions could bring more Chinese exports and lower prices to Europe.

Draghi Report : . "Slower productivity growth has in turn been associated with slower income growth and weaker domestic demand in Europe: on a per capita basis, real disposable income has grown almost twice as much in the US as in the EU since 2000.". ECB 2025 : we dit it again :.

ECB - Working Paper Series. Beyond the short run: monetary policy and innovation investment. "This evidence suggests that monetary tightenings can exert long-lasting effects on technology growth".

"Maybe it isn’t Trump who always chickens out.". The EU-US trade is a stark reminder of Europe's dependence, writes @LionelRALaurent

Main findings from the ECB’s recent contacts with non‑financial companies. - Contacts reported a slowdown in activity in recent months as tariffs, geopolitical tensions and the resulting uncertainty dented business and consumer confidence. - In the manufacturing sector, the.

RT @Lagarde: I am very much looking forward to working with Isabel in her new role. I also want to express my heartfelt gratitude to Rolan….

ECB appoints Isabel Vansteenkiste (@isabelsabine) as Counsellor to President Lagarde. "Her predecessor Roland Straub to become Deputy Director General Market Operations. Both appointments effective as of 15 September 2025".

RT @fteconomics: US and EU close in on 15% tariff deal

RT @gcalignon: Pour ceux qui ont des certitudes sur tout et surtout des certitudes, il faut toujours lire @NicolasGoetzman .

Chronique pour Les Echos, 21 Juillet

But wait, do French OATs REALLY trade at a spread over Italian BTPS? via @ft.

Japan Nominal GDP. Q1 1997 - Q3 2022 : +2.30% . Q3 2022-Q1 2025 : +12.06%

ECB ready for 'forceful' action in world of inflation swings . by @FranCanJourno .

Frozen French retail trade . Last 2 Years (May 2023-May 2025). Nominal : -0.42% (-0.21% annualized).Real : -1.14% (-0.57% annualized).Deflator : +0.73% (+0.36% annualized).

"with many manufacturing industries already suffering from overcapacity, there are limits to further increases in investment. As such, to maintain 5% growth going forward, China will need to strengthen consumption". Fed - Is China Really Growing at 5% ?.

"In the following decades, the call for fiscal discipline then slowly but surely gained ground, without yet becoming dominant. This picture changed from the late 1980s onwards. Only then did fiscal discipline emerge as the predominant policy proposition tied to the Weimar memory".

RT @michaelxpettis: 1/7.This ECB report says that what constrains EU investment is not scarce capital but rather "weakness in demand": "Net….