MW: Productivity revised down, still best in 6 years
By Rex Nutting
WASHINGTON (MarketWatch) - U.S. nonfarm business productivity increased at an 8.1% annual rate in the third quarter, revised down from the 9.5% estimated a month ago, the Labor Department reported Thursday. Economists surveyed by MarketWatch were looking for a revision down to 8.6%. Unit labor costs - a significant marker for inflationary pressures from wages - fell 2.5%, revised up from a 5.2% decline reported a month ago. In manufacturing, productivity increased at a record 13.4% annual rate. Unit labor costs fell 6.1% annualized in the sector.
