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Hungary Average Earnings Growth Unexpectedly Improves In September

Hungary's average gross earnings growth improved in September, defying expectations for further slowing, figures from the Hungarian Central Statistical Office showed on Thursday.

Average gross monthly earnings of full-time employees rose 10.4 percent year-on-year following a 10.1 percent growth in August. Economists had forecast a 10 percent increase.

An upsurge in labor demand, rises of 8 percent in the minimum wage and 12% in the guaranteed minimum wage as well as salary adjustments affecting specific areas of the public sector and the employees of some state owned public service companies had an impact on earnings growth, the agency said.

In January-September period, both average gross and net earnings grew by 11.7 each compared to the same period of the previous year.

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