U.S. Third-Quarter Productivity Rises Less Than First Estimated
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The productivity of U.S. workers advanced in the third quarter more slowly than previously estimated, a signal that efficiency gains are contributing less to growing corporate profits.
The measure of employee output per hour increased at a 2.3 percent annual rate after declining for two quarters, revised data from the Labor Department showed today in Washington. The previous figures indicated productivity rose 3.1 percent in the July-September period. Expenses per employee fell at a 2.5 percent rate, more than initially estimated.