US worker productivity rose more than expected in the second quarter as hours increased at their fastest pace in 1-1/2 years, keeping labour costs under control. The Labour Department said on Wednesday that nonfarm productivity, which measures hourly output per worker, increased at a 0.9 per cent annualised rate in the April-June period. First-quarter productivity was revised to show it edging up at a 0.1 per cent pace instead of being unchanged as previously reported. Compared to the second quarter of 2016, productivity increased at a 1.2 per cent rate, the strongest performance ...
US worker productivity rises at 1.2% rate in Q2, labour costs under control
To retain 3% real GDP growth, productivity growth will have to exceed avg growth of 2.1%