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Hungarian Wage Growth Exceeds Forecast In February

Earnings of Hungarian employees increased at a faster than expected pace in February, data released by the Central Statistical Office showed Thursday.

Average gross wages of employees increased 6.9 percent on an annual basis in February, markedly faster than the 6 percent growth economists forecast. In January, wages advanced 4.3 percent year-on-year.

Wages and salaries in the private sector climbed 8.9 percent annually, while earnings in the private sector grew 2.1 percent.

In the January-February period, average gross wages increased 5.5 percent from the corresponding period a year earlier. Earnings in the private sector grew 7 percent annually, while it moved up 1.7 percent in the public sector, the agency said.

by RTTNews Staff Writer

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