U.S. Third-Quarter Productivity Rises by Most in Two Years

Worker productivity rose in the third quarter by the most in two years as the economy picked up steam, offering a respite from the weak efficiency gains that have defined the U.S. expansion.

The measure of employee output per hour increased at a 3.1 percent annualized rate, after a revised 0.2 percent drop in the prior three months, Labor Department figures showed Thursday. The median forecast in a Bloomberg survey called for a 2.1 percent gain. Expenses per worker climbed at a 0.3 percent pace.