The U.K. will see its first real wage growth this year since 2007, a survey on Monday showed, in the latest upbeat economic news that has helped push the blue-chip FTSE-100 stock index to within striking distance of record highs.
Real wages—or income adjusted for inflation—are set to rise 1.9 percent this year and accelerate from there, economic forecaster EY ITEM Club said in a report on the labor market.
It marks yet another piece of positive news for the U.K. economy, and on Monday, the U.K.’s benchmark index rose as high as 6,943 – within sight of a record high set in late 1999 at 6,950.
News on Friday that euro zone negotiators agreed to extend Greece’s bailout package also helps explain the strong gains in the index, analysts said.
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