Croatia's average net wage down by real 4.6% y/y in Dec 2012.

By bne IntelliNews March 1, 2013
Croatias average net wage dropped by a real 4.6% on the year in December 2012 after declining by an annual 5% in the previous month, detailed data of the statistics office showed. The average net wage narrowed in real terms for the tenth month in a row in December. The continued decline in wages would contribute for the further decline in consumption and in GDP, respectively. In nominal terms, the average net wage inched down by 0.1% on the year to HRK 5,487 (EUR 729) in December following an annual decline of 0.8% a month earlier. On a monthly basis, the December average net wage declined by 3.4% in nominal and by 3.3% in real terms. The sector classification showed that wages dropped most in nominal terms in financial and insurance activities (7.1% on the month) and in agriculture, forestry and fishing (6.9% on the month). The gross wage dropped by 2.2% on the month in real and by 2.3% on the month in nominal terms to HRK 7,894 in December, while on annual basis it went down by a real 4.5% and remained unchanged in nominal terms.

Croatia's average net wage down by real 4.6% y/y in Dec 2012.

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