Hungary's Wage Growth Weakens In November

Gross earnings of Hungarian employees increased at a notably slower pace in November, data released by the Central Statistical Office revealed Tuesday.

Average gross wages at corporations employing at least 5 persons increased 4.1 percent in November from the corresponding month of last year, which was slower than the 5.7 percent gain registered in October.

Wages and salaries in the business sector grew 5.3 percent annually, and earnings in budgetary institutions advanced 2 percent. There was a 3.2 percent annual increase in wages of employees of non-profit institutions during the month.

At the same time, net earnings grew 5.7 percent year-on-year in November, after rising 7.2 percent a month earlier.

During the January-November period, gross wages advanced 3.8 percent from the corresponding period of 2012.

The material has been provided by InstaForex Company – www.instaforex.com

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