Friday, a report by the Hungarian Central Statistical Office said the average monthly gross earnings grew 2.5% year-on-year in February, reversing the 5.2% fall in the previous month. Economists expected the wages to rise 3.5%.

In the business sector, average gross wages increased 3% in February, while they were up 1.5% in budgetary institutions.

Meanwhile, the average monthly net earnings rose 1.6% annually in February compared to a 4% decline in January. Net earnings were up 1.8% in the business sector and 1.2% in budgetary institutions.

In the January-February period, the average gross earnings declined 1.5%, and the average net earnings fell 1.3% compared to the corresponding period in the previous year.

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