U.S. productivity rises faster than expected in fourth quarter

U.S. nonfarm productivity rose more than expected in the fourth quarter, mirroring the economy’s sturdy growth pace, but weak unit labor costs pointed to subdued wage inflation.

Productivity rose at a 3.2 percent annual rate after increasing at a 3.6 percent pace in the third quarter, the Labor Department said on Thursday.

Economists polled by Reuters had forecast productivity, which measures hourly output per worker, rising at a 2.5 percent rate in the last three months of 2013.

 

Bloomberg covers the story here:

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