Eurozone Q3 Hourly Labor Cost Growth Slows

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Eurozone's hourly labor cost index rose 3.2% year-on-year in the third quarter, slower than a 4.3% increase in the second quarter, revised from 4% growth reported initially, a report by the Eurostat said on Tuesday. Economists expected an increase of 3.5%.

In the third quarter, wages and salaries grew 3.1% annually, compared to a revised 4.2% growth in the second quarter, while the non-wage costs were up 3.6% compared to a revised 4.6% rise in the preceding quarter.

In EU 27, hourly labor costs increased 3.1% on an annual basis in the third quarter, compared to the revised 4.2% growth in the previous quarter.

Eurozone's hourly labor cost index rose 3.2% year-on-year in the third quarter, slower than a 4.3% increase in the second quarter, revised from 4% growth reported initially, a report by the Eurostat said on Tuesday. Economists expected an increase of 3.5%. (Market News Provided by RTTNews)