Indicators
US Productivity Tops Forecast as Firms Seek to Contain Costs
A worker assembles components on a diesel engine at an engine plant in Seymour, Indiana.
Photographer: Luke Sharrett/BloombergUS labor productivity rose in the fourth quarter by more than forecast after the strongest advance in five years, adding to evidence that companies are striving for greater efficiency to contain costs.
Productivity, or nonfarm employee output per hour, increased at a 2.8% annualized rate, data from the Bureau of Labor Statistics showed Thursday. In the third quarter, productivity growth was revised up to a 5.2% pace.