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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United KingdomUnited Kingdom Labour Costs QoQ fell to 0.4% in Q4 2017
FMPMonthlyReleased January 2018
United Kingdom Labour Costs QoQ fell to 0.4% in Q4 2017, released January 2018, down 0.3% from November's 0.7% reading.
Latest Release
0.400000
Actual
—
Consensus
0.700000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| GBP/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/GBP | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| GBP/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| FTSE 100 | ▲ Direct | +0.35 | INDEX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Labour Costs QoQ (United Kingdom) was reported at 0.4% in January 2018. The reading fell from the previous value of 0.7%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with GBP/USD (Bullish GBP). A secondary relationship exists with EUR/GBP, negatively correlated (Bearish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Employment Change (Sep 15) and Average Earnings incl. Bonus (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update January 2018.
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Labour Costs QoQ - UK
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About Labour Costs QoQ — United Kingdom
DEFINITION
Labour Costs QoQ (Quarter over Quarter) is a financial indicator that measures the change in the total cost of labor for businesses from one quarter to the next. It provides valuable insights into the trends and fluctuations in labor expenses, which can impact a company's profitability and overall financial performance. This indicator is often used by investors, analysts, and policymakers to assess the health of the labor market and make informed decisions about investments and economic policies.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2017): actual 0.4 %.
WHAT'S NEXT
This indicator correlates most strongly with GBP/USD (Bullish GBP, r=0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - UK Events
| Friday, September 11, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | UK | Manufacturing Production YoY | 2.6 | 0.5 | 2 | 2.30 | Low |
| 06:00 | UK | Balance of Trade | -3.45 | -5.537 | -4 | -3.73 | Low |
| 06:00 | UK | Gross Domestic Product YoY | 1.6 | 1.1 | 1.2 | 1.40 | Low |
| 06:00 | UK | Construction Output YoY | -2.5 | -2.3 | -2.3 | -2.40 | Low |
| 06:00 | UK | Industrial Production YoY | 0.6 | -0.2 | 0.2 | 0.40 | Low |
| 06:00 | UK | Gross Domestic Product MoM | 0.4 | 0.3 | 0 | 0.20 | High |
| 06:00 | UK | Manufacturing Production MoM | 0.9 | -0.5 | 0.2 | 0.55 | Medium |
| 06:00 | UK | Industrial Production MoM | 0.2 | -0.2 | -0.2 | 0.00 | Medium |
| 06:00 | UK | Goods Trade Balance | -20.97 | -23.01 | -22.3 | -21.63 | Medium |
| 06:00 | UK | GDP 3-Month Avg | 0.4 | 0.4 | 0.3 | 0.35 | Medium |
| 06:00 | UK | Construction Output MoM | 0.1 | -0.1 | 0.1 | 0.10 | Low |
| 06:00 | UK | Balance of Trade Non-EU | -9.66 | -10.45 | -9.3 | -9.48 | Medium |
| 06:00 | UK | NIESR Monthly GDP Tracker | 0.4 | 0.4 | 0.3 | 0.35 | Medium |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 06:00 | UK | HMRC Payrolls Change | -13 | -4 | -4.00 | Low | |
| 06:00 | UK | Claimant Count Change | -11 | -5 | -5.00 | Low | |
| 06:00 | UK | Employment Change | 83 | 70 | 70.00 | Medium | |
| 06:00 | UK | Average Earnings excl. Bonus | 3.5 | 3.5 | 3.50 | Low | |
| 06:00 | UK | Average Earnings incl. Bonus | 4.1 | 3.9 | 3.90 | Medium | |
| 06:00 | UK | Unemployment Rate | 4.9 | 5 | 5.00 | High | |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 06:00 | UK | Retail Price Index MoM | 0.6 | 0.5 | 0.35 | Low | |
| 06:00 | UK | Retail Price Index YoY | 3.2 | 3.5 | 3.40 | Low | |
| 06:00 | UK | PPI Core Output YoY | 2.8 | 2.9 | 2.85 | Low | |
| 06:00 | UK | Inflation Rate YoY | 2.9 | 3.1 | 3.00 | High | |
| 06:00 | UK | PPI Input MoM | -1.7 | 0.1 | -0.05 | Low | |
| 06:00 | UK | PPI Core Output MoM | 0.6 | 0.4 | 0.60 | Low | |
| 06:00 | UK | Core Inflation Rate MoM | 0.2 | 0.3 | 0.25 | Low | |
| 06:00 | UK | Inflation Rate MoM | 0.3 | 0.5 | 0.40 | Medium | |
| 06:00 | UK | PPI Output MoM | 0.2 | 0.2 | 0.20 | Low | |
| 06:00 | UK | PPI Output YoY | 3.1 | 3.1 | 3.10 | Low | |
| 06:00 | UK | Core Inflation Rate YoY | 2.6 | 2.7 | 2.65 | Medium | |
| 06:00 | UK | PPI Input YoY | 4.9 | 5 | 4.95 | Low | |