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:
