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Financial News: Hungary Wage Growth Accelerates Unexpectedly

Hungary Wage Growth Accelerates Unexpectedly

01/19/2018 - 03:16:00 (RTTNews)

(RTTNews) - Hungary's employee wage growth accelerated unexpectedly in November after easing in the previous month, figures from the Hungarian Central Statistical Office showed Friday.

Gross earnings surged 13.0 percent year-over-year in November, faster than the 12.8 percent spike in October. Meanwhile, economists had expected the growth to ease to 11.9 percent.

Net earnings, which excludes the family tax benefit, also advanced 13.0 percent in November from a year ago.

During the first eleven months of the year, both gross and net earnings grew to the same extent, by 12.8 percent compared to the same period of the previous year.

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