Hungary's monthly gross wages increased at a notably slower pace in June, and the rate of growth was below economists' expectations, data released by the Central Statistical Office showed Wednesday.
Average gross earnings of Hungarian employees increased 4.1 percent on an annual basis in June, markedly slower than the 6.4 percent gain seen in May. Economists were looking for a 5.2 percent growth.
Earnings of employees in the business sector were higher by 7.2 percent compared to June 2011, following the previous month's 9.4 percent gain. Meanwhile, earnings in budgetary institutions decreased 3.1 percent in June from a year earlier.
Wages in non-profit institutions rose at a slower rate of 6.6 percent in June than last year's 9.3 percent, data showed.
In the January-June period, gross wages advanced 4.4 percent from the corresponding period a year earlier, the agency said.
by RTT Staff Writer
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