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Last night, IG Metall and German............>

GERMANY
GERMANY: Last night, IG Metall and German employers reached a wage agreement and
close to 4 million workers will be effected.
- According to Frederik Ducrozet at Pictet Wealth Management who has studied the
agreement "The bottom line is that the agreed pay rises, and accompanying
measures, are at the top end of expectations and should result in annual wage
increases of close to 4% over the next couple of years (vs expectations of about
3%+)."
- It is a complicated deal, as usual, but according to Ducrozet "factoring in
the previous wage round (including a 2% hike in April 2017), our rough estimates
are consistent with annual wage increases of 3.7% in 2018, and 4.1% in 2019 (the
highest since 2009, see chart), excluding one-off payments"
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