U.S. Q2 productivity revised down to -1.8 pct rate

WASHINGTON, Sept 2 (BestGrowthStock) – U.S. non-farm productivity
fell more steeply than previously estimated in the second
quarter, posting its largest decline since the third quarter of
2006, according to government data on Thursday that underscored
the sputtering economic recovery.

Productivity contracted at an annual rate of 1.8 percent,
the Labor Department said, instead of the previously reported
0.9 percent pace.

Productivity, a measure of hourly output per worker that is
taken as an indicator of the economy’s vitality or lack of it,
increased at a 3.9 percent rate in the first quarter. Markets
had expected productivity to drop at a 1.9 percent pace in the
April-June period.
(Reporting by Lucia Mutikani, Editing by Chizu Nomiyama)

U.S. Q2 productivity revised down to -1.8 pct rate