Really interesting stuff in this ECB Bulletin, I will be posting the bits I found more interesting below👇 - ThreadSky

jordischroeder.bsky.social • 13 days ago

Really interesting stuff in this ECB Bulletin, I will be posting the bits I found more interesting below👇

📚 Our latest #EconomicBulletin is out!

It presents the economic and monetary information which forms the basis for our policy decisions.

Read the full issue of the Economic Bulletin www.ecb.europa.eu/press/econom...

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jordischroeder.bsky.social•13 days ago

In high income regions, flooding is followed by a construction boom and a rise in industrial output, while, in middle-income regions, there is no surge in construction and industrial output falls. https://www.ecb.europa.eu/press/economic-bulletin/focus/2025/html/ecb.ebbox202501_04~ff5de054b8.en.html

jordischroeder.bsky.social•13 days ago

This leads to opposite medium-term impacts on output, which declines in middle-income regions and increases in high-income ones.

westervangaal.bsky.social•12 days ago

Wow this a massive difference.

jordischroeder.bsky.social•12 days ago

Yup, the other graph didn't paste properly, but the differences in construction and industrial gross value-added is quite astonishing:

jordischroeder.bsky.social•13 days ago

A very neat graph showing how context-dependent ECB communications are: from the complete monopolisation of financial discussions from 2009 to 2014 to the spike in inflation in 2020.

jordischroeder.bsky.social•13 days ago

Inflation in services accounts for the largest share of headline inflation in advanced economies.

jordischroeder.bsky.social•13 days ago

According to the authors, non-rent services inflation is mostly explained by the wage-productivity differential.

jordischroeder.bsky.social•13 days ago

In turn, they argue that wage growth is mainly explained by labour market tightness and catch-up dynamics. However, they do not discuss the "other factors" in the graph, which seem to be the dominating force at present.

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