Wages in Poland's private sector rose more than expected in February. The average gross salary was zł.3,709.99, up by 4 percent year-on-year and by 0.8 percent month-on-month, statistics office GUS said. Analysts surveyed by press agency PAP had expected the average salary would rise by 2.6 percent y/y and fall by 0.4 percent m/m.
GUS also said that employment in the private sector amounted to 5,497,400 in February, down by 0.8 percent y/y and by 0.2 percent m/m.
"The rebound of wages after their visible deceleration in January was due to the base effect from the past year," Bank Zachodni WBK economists wrote in a comment. "Thus, the volatility of annual pace of wages in the first two months of 2013 does not really show the underlying trend in wages."
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