Real wages rise 9.2% yoy in October

Real wages in Ukraine grew 9.2% yoy in October,
slowing from 9.8% yoy growth in September, the State Statistics Service
reported on Nov. 28. The average monthly nominal wage increased to UAH 10,727 a
month (USD 432) from UAH 10,687 in September, but declined 0.3% m/m in real
terms.

The leading regions for average monthly wages were the
city of Kyiv (UAH 15,862), the Ukrainian-controlled Donetsk region (UAH
11,952), and the Kyiv region (UAH 11,325).

The largest nominal average wage growth was in
administrative personnel services (23.2% yoy), health care and social
assistance (19.5% yoy) and real estate operations (19.2% yoy). Within the
industrial sector, the highest nominal wages were in pharmaceuticals (UAH
19,798), mining (UAH 16,169), and coke and oil production (UAH 15,596).

Evgeniya Akhtyrko: Apparently,
the reinforced decline in industrial output
contributed to the slower growth of wages in October.

We expect real wages to climb 9-10% yoy in 2019 (vs.
12.5% yoy in 2018).