Investing.com - U.S. non-farm productivity rose more-than-expected in the third quarter, while unit labor costs 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 increased by a seasonally adjusted 2.0% in the three months ended September 30, above expectations for a gain of 1.5%.
The preceding quarter’s figure was revised to a 2.9% gain from a previously reported increase of 2.3%.
The report also said unit labor costs rose by a seasonally adjusted 0.3% in the third quarter, compared to expectations for a 0.5% increase, after dropping 0.5% in the preceding quarter.
EUR/USD was trading at 1.2514 from around 1.2523 ahead of the release of the data, while GBP/USD was at 1.5925 from 1.5934 earlier.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow futures indicated a loss of 0.1% at the open, the S&P 500 futures pointed to a decline of 0.2%, while Nasdaq 100 futures shed 0.1%.
Elsewhere, in the commodities market, gold futures traded at $1,145.80 a troy ounce, compared to $1,148.20 ahead of the data, while crude oil traded at $77.92 a barrel from $78.00 earlier.