1m agoSharif also says, following on our observation earlier about the tariff risk to real incomes, that the dip in year-on-year average hourly earnings growth to 3.8% “is one area of concern with these large tariffs on the horizon.”

“Wage growth is just unlikely to help consumers absorb the blow from tariffs in the same manner that it helped them offset some of the price jump in the aftermath of Covid.”

Chris AnsteySenior Editor