Investing.com - The average earnings index in the U.K. increased more than expected in the three months to April, 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 2.7% in the three months to April, above forecasts for a gain of 2.5% and after increasing by 2.3% in the three months to March.
Wages, excluding bonuses, rose by 2.7% in the three months to April, compared to expectations for a gain of 2.1% and following a 2.3% increase in the three months to March.
GBP/USD was trading at 1.5722 from around 1.5669 ahead of the release of the data, while EUR/GBP was at 0.7171 from 0.7198 earlier.
Meanwhile, European stock markets held on to modest losses. London’s FTSE 100 shed 0.1%, the EURO STOXX 50 dipped 0.1%, France's CAC 40 declined 0.25%, while Germany's DAX slumped 0.2%.
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U.K. average earnings index rises 2.7% in April
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