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U.K. average earnings index rises 0.7% in August

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Investing.com -

Investing.com - The average earnings index in the U.K. increased broadly in line with market expectations in the three months to August, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said that the average earnings index, including bonuses, rose by a seasonally adjusted 0.7% in the three months to August, in line with forecasts, after rising by 0.6% in the three months to July.

Excluding bonuses, wages rose by 0.9% in the three months to August, above expectations for a gain of 0.8% and following a 0.8% gain in the three months to July.

GBP/USD was trading at 1.5922 from around 1.5920 ahead of the release of the data, while EUR/GBP was at 0.7950 from 0.7954 earlier.

Meanwhile, European stock markets remained lower. London's FTSE 100 lost 1.1%, the DJ Euro Stoxx 50 shed 0.7%, France's CAC 40 declined 0.45%, while Germany's DAX slumped 0.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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