Hungary's monthly gross wages increased at a significantly slower pace in March, and missed economists' expectations, data released by the Central Statistical Office showed Friday.
Average monthly gross wages of Hungarian employees increased 2.7 percent on an annual basis in March, markedly slower than the 6.8 percent growth seen in February. Economists were looking for a 6.5 percent year-on-year increase.
Gross wages in the business sector advanced 5.8 percent year-on-year, while earnings in budgetary institutions decreased 4.5 percent. There was a 3.9 percent annual growth in gross wages in non-profit institutions during the month.
In the January-March period, gross wages increased on average 4.4 percent compared to the same period a year earlier, the agency said.
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