Average monthly gross earnings of Hungarian employees increased at a faster pace in May, and the rate of growth far exceeded economists' expectations, data released by the Central Statistical Office showed Thursday.
Monthly gross wages advanced 6.4 percent on an annual basis in May, after growing 2.5 percent in April. Economists were looking for a 3.2 percent increase.
Wages and salaries in the business sector rose at a faster rate of 9.4 percent during the month than the previous month's 6.5 percent. In budgetary institutions, meanwhile, gross wages decreased 0.6 percent annually during the month, after dropping 7.3 percent a month earlier.
In the January-May period, gross earnings increased 4.4 percent from the corresponding period a year earlier, data showed.
by RTT Staff Writer
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