UK wage growth hits survey low in Feb

LONDON: Growth in Britons' take-home pay eased to its slowest rate in at least five years in February as pay growth in the dominant services sector fell to its weakest in more than a year, a survey showed on Wednesday.

Wage processors VocaLink said annual growth in take-home pay slowed to 2.4 per cent in the three months to February from 2.7 per cent in January, the lowest since the survey started in 2004.

Annual wage growth in the services sector, which accounts for around two-thirds of the economy, fell to 2.9 per cent in the three months to February from 3.1 per cent in the period to January - its lowest since January 2008.

Pay growth in the manufacturing sector picked up slightly to 1.5 per cent from a four-year low of 1.4 per cent in the three months to January.