Headline Alert
Economic Update: Nonfarm Productivity and Unit Labor Costs
The government reported U.S. Nonfarm Productivity in the first quarter rose by +1.8%, which was above the estimates for reading of +1.7%. (Q4: +2.6%, Q3: +2.4%, Q2: +1.9, Q1: +3.9%).
On the inflation front, Unit Labor Costs were reported to have risen +0.7% versus the expectations for +0.8%. (Q4’s reading was -1.0%).
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