Investing.com - U.S. non-farm productivity rose more-than-expected in the third quarter of 2012, while unit labor costs declined unexpectedly, 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 1.9% in the third quarter, above expectations for a gain of 1.6%.
The previous quarter’s figure was revised to a 1.9% gain from a previously reported 2.2% increase.
The report also said unit labor costs fell by a seasonally adjusted 0.1% in the third quarter, defying expectations for a 1.0% gain, after rising by a revised 1.7% in the second quarter.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD easing up 0.01% to trade at 1.2961.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.1% at the open, S&P 500 futures indicated a flat open, while the Nasdaq 100 futures signaled a 0.3% advance.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 1.9% in the third quarter, above expectations for a gain of 1.6%.
The previous quarter’s figure was revised to a 1.9% gain from a previously reported 2.2% increase.
The report also said unit labor costs fell by a seasonally adjusted 0.1% in the third quarter, defying expectations for a 1.0% gain, after rising by a revised 1.7% in the second quarter.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD easing up 0.01% to trade at 1.2961.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.1% at the open, S&P 500 futures indicated a flat open, while the Nasdaq 100 futures signaled a 0.3% advance.