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U.K. average earnings index slows to 2.4% in October

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Investing.com -

Investing.com - The average earnings index in the U.K. increased less than expected in the three months to October, dampening the case for higher interest rates, 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 2.4% in the three months to October, missing forecasts for a gain of 2.5% and after increasing by 3.0% in the three months to September.

Excluding bonuses, wages rose by 2.0%, below expectations for 2.3% and following a 2.4% increase in the three months to September.

GBP/USD was trading at 1.4994 from around 1.5002 ahead of the release of the data, while EUR/GBP was at 0.7289 from 0.7285 earlier.

Meanwhile, European stock markets were mixed in quiet trade. London's FTSE 100 tacked on 0.4%, the EURO STOXX 50 shed 0.1%, France's CAC 40 advanced 0.1%, while Germany's DAX dipped 0.1%.

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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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