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U.S. productivity rises in Q2, keeps labor costs in check

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. productivity grew more than expected in the second quarter as hours worked rose at their fastest pace in 1-1/2 years, leading to a modest increase in labor costs that could keep inflation muted in the near term. The trend in productivity, however, remains weak, suggesting robust economic growth will be hard to achieve. President Donald Trump has vowed to boost annual growth to 3 percent through tax cuts, infrastructure spending and regulatory rollbacks."The economy is aging and the growth rate for this eight-year expansion may have maxed out unless ...

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First Published: Wed, August 09 2017. 22:14 IST