Breaking news

ECB Rate Hikes: A Looming Threat to Consumer Spending and Economic Stability

The European Central Bank signaled a possible interest rate increase as early as the end of the month, according to recent statements by Christine Lagarde, President of the ECB. The move is linked to inflation driven by rising energy prices.

ECB Dilemma Amid Inflation Pressures

Lagarde indicated that rate increases remain under consideration as part of efforts to control inflation. Higher borrowing costs may reduce household spending. Lower consumption could affect employment, wages, and overall economic activity.

ETUC Advocates For Consumer-Centric Policies

European Trade Union Confederation stated that declining consumer spending supports an alternative policy approach. The organization called for measures to support household income. ETUC data indicate that weak demand is affecting retail activity and broader economic conditions.

Economic Indicators And Consumer Confidence

Recent business and consumer surveys indicate a decline in consumer confidence, which has reached its lowest level in 2.5 years. Households are increasingly postponing major purchases in the near term.

Employment expectations have weakened across retail, services, and manufacturing sectors, reflecting more cautious business outlooks. At the same time, companies have raised their sales price expectations in response to continued inflationary pressures.

Wage growth remains below the pace of living cost increases. Energy expenses are projected to rise from 9% to up to 12% of household budgets, linked to higher prices and geopolitical developments in the Middle East. This trend continues to reduce purchasing power.

Resilience In The Cypriot Retail Sector

Retail data in Cyprus show continued growth compared with broader European trends. Figures from the statistical authority indicate an upward trajectory in retail trade.

In February 2026, the Value Turnover Index increased by 3.3% and the Volume Turnover Index rose by 4.1% year-on-year. For the January–December 2025 period, value increased by 6.1% and volume by 7.9%.

The data indicate stronger retail performance relative to other European markets, where consumer demand has weakened. Interest rate policy remains a key factor affecting consumption, as higher borrowing costs may limit spending while income growth continues to lag behind inflation.

Women Make Up A Majority Of The EU’s Science And Technology Workforce But The Real Gap Is Elsewhere

Women now make up the majority of the EU’s science and technology workforce. According to Eurostat, in 2025, more than 81.6 million people aged 15 to 74 were employed in science and technology occupations across the EU. Of those, 52.5% were women, equal to 42.8 million women. The number of women in these occupations rose by 27.9% compared with 2015, an increase of more than 9.3 million over a decade.

On the surface, the numbers resemble progress. However, Eurostat’s category requires context before that figure can be read accurately. The data refers to HRST, or Human Resources in Science and Technology, specifically people employed in science and technology occupations. These are roles where the main tasks require professional or technical knowledge in physical and life sciences, but also in social sciences and humanities. That definition is wider and broader than engineering, ICT, laboratory science, or high-tech research alone.

Zooming In

The gender picture changes once the data moves from a wider definition of the workforce to the narrower scientist-and-engineer (research and manufacturing) subgroup.

Scientists and engineers represented almost a quarter of all people employed in science and technology in the EU in 2025. Eurostat describes scientists and engineers as often being the innovators at the centre of technology-led development, making them an important subgroup to focus on separately.

Women accounted for only 40.8% of scientists and engineers in 2025, despite making up more than half of the wider category. That share has increased by a mere 0.5 percentage points over the past decade. The absolute number of women working as scientists and engineers rose from 5.3 million in 2015 to 8.2 million in 2025, despite the push from national and international organisations to increase the number of women in the field. Europe has expanded the number of women in science and technology occupations over ten years. However, that expansion has not extended equally into the scientist-and-engineer subgroup, where much of Europe’s research and innovation work is conducted.

In 2025, of the 39.4 million women aged 25 to 64 working in science and technology occupations in the EU, 35.5 million worked in service activities. Only 2.7 million worked in manufacturing. Women accounted for 57.5% of science and technology employment in services, but only 31.3% in manufacturing.

In 2025, the highest shares of women employed in science and technology occupations were recorded in Latvia at 62.4%, followed by Hungary’s Great Plain and North region at 61.1%, Estonia at 60.5%, Poland’s Central macroregion at 60.4%, and Lithuania at 60.3%. No EU country recorded a majority of women among science and technology workers in manufacturing.

Break-down

Eurostat’s figures measure employment in broad science and technology occupations. They do not show job security, pay levels, management roles, promotion rates, research leadership, or whether women are concentrated in junior or senior workplace positions.

The classification of “senior” also requires additional explanation. Eurostat reports that 45.9% of science and technology workers aged 25 to 64 in the EU were classified as “senior” HRST in 2025. In this dataset, “senior” refers to workers aged 45 to 64. It does not mean senior manager, senior researcher, team lead, or decision-maker.

A high female share in the wider Human Resource Science and Technology (HRST) category does not parallel equal representation across scientists, engineers, manufacturing roles, senior posts, pay, research funding, or decision-making. These figures also reflect the occupational mix inside each country or region, not only structural progress across all areas of science and technology.

The Case Of Cyprus

Eurostat data places Cyprus’s overall science and technology employment at 37.2% of the labour force in 2025, slightly above the EU-27 figure of 36.9%, and above Greece at 26.8%, Malta at 33.9%, and Turkey at 18.2%. This figure covers the total share of the labour force employed in science and technology across all genders.

Progress Or Work-in-Progress?

52.5% in the broad category. 40.8% among scientists and engineers. 31.3% in manufacturing. Europe’s gender gap in science and technology hasn’t closed yet, and there is still work to be done to encourage and support more women to enter the field, especially in research and manufacturing.

Let’s not wait another decade for another couple of percentage points of hope.

eCredo
Aretilaw firm
The Future Forbes Realty Global Properties
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter