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Productivity in 3Q beats expectations climbing at pace of 4.1 percent; unit labor costs decline. U.S. business productivity surged in the third quarter, and slimmer compensation gains helped shrink labor costs, a government report showed Thursday, far outpacing Wall Street expectations. The Labor Department said growth in non-farm productivity, or worker output per hour, grew at a 4.1 percent annual rate from July to September after an upwardly revised 2.1 percent second-quarter gain. Wall Street had expected productivity to increase at a 2.5 percent pace following a previously estimated 1.8 percent second-quarter advance. . |
