Burberry's share price has halved over the past year despite rising national wages potentially boosting consumer spending. The luxury brand now rests around 1,200 just above decade-old support levels that if broken could result in a further move down.
UK Nominal Wage Growth Better Than Expected
In the UK, wages are rising again. Latest data from the Office of National Statistics (ONS) today showed that annual pay growth has stopped falling. From its recent floor, annual wage growth topped 6 percent (see below). Even the ONS is surprised, and remarked on X (formerly Twitter) that the annual growth "remains relatively strong."
In real terms, ...