Wages of Hungarian employees increased at a faster rate in April, defying economists' expectations for a slowdown, latest data showed Tuesday.
Monthly gross wages in firms employing at least five persons increased 4.5 percent on an annual basis in April, faster than the 3.2 percent gain seen in March, the Central Statistical Office said. Economists had forecast growth to weaken to 3 percent.
Earnings of employees in the business sector rose at notably faster rate of 5.5 percent in April than 2.7 percent in March, while wage growth in budgetary institutions eased to 2.6 percent from 4.5 percent.
Wages in non-profit institutions were higher by 5.9 percent than a year earlier, which marked modest a deceleration from March's 6.1 percent gain.
Net earnings, excluding family tax benefits, recorded a 5.9 percent annual growth in April, the agency said.
During the January-April period, gross wages increased 3.4 percent from the corresponding period a year earlier.
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