The U.S. Labor Deparment reported on Dec. 3 that in its revised report, productivity rose at an annual rate of 1.3%. This was down form a 3.6% growth in the second quarter but was higher than the 1.1% reported last month.
In manufacturing, revised productivity changes in the third quarter were:
- -2.7 percent in manufacturing,
- +2.9 percent in durable goods manufacturing, and
- -10.2 percent in nondurable goods manufacturing.
In the manufacturing sector, productivity fell 1.7 percentage points more than was reported on November 6, as a 2% downward revision to output was partially offset by a 0.4% downward revision to hours, according to the report.
Unit labor costs rose at 2.8% in the third quarter compared to 2.6% in the second quarter.
