Investing.com - U.S. non-farm productivity rose less-than-expected in the first quarter of 2013, while unit labor costs also came in below forecasts, official preliminary data showed on Thursday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.7% in the first three months of the year, compared to expectations for an increase of 1.2%.
The previous quarter’s figure was revised to a 1.7% decline from a previously reported drop of 1.9%.
The report also said unit labor costs rose by a seasonally adjusted 0.5% in the first quarter, below expectations for a 0.7% gain, after rising by a revised 4.4% in the preceding quarter.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.06% to trade at 1.3188.
Meanwhile, U.S. stock future indices pointed to higher open. The Dow Jones Industrial Average futures rose 0.5%, S&P 500 futures pointed to a gain of 0.6%, while the Nasdaq 100 futures pointed to an increase of 0.6% at the open.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 0.7% in the first three months of the year, compared to expectations for an increase of 1.2%.
The previous quarter’s figure was revised to a 1.7% decline from a previously reported drop of 1.9%.
The report also said unit labor costs rose by a seasonally adjusted 0.5% in the first quarter, below expectations for a 0.7% gain, after rising by a revised 4.4% in the preceding quarter.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.06% to trade at 1.3188.
Meanwhile, U.S. stock future indices pointed to higher open. The Dow Jones Industrial Average futures rose 0.5%, S&P 500 futures pointed to a gain of 0.6%, while the Nasdaq 100 futures pointed to an increase of 0.6% at the open.