Investing.com - U.S. non-farm productivity rose more-than-expected in the fourth quarter, while unit labor costs fell more than forecast, 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 3.2% in the three months ended December 31, above expectations for an increase of 2.5%.
The third quarter’s figure was revised to a 3.6% gain from a previously reported increase of 3%.
The report also said unit labor costs fell by a seasonally adjusted 1.6% in the final three months of 2013, compared to expectations for a 0.5% decline, after dropping 2% in the preceding quarter.
Following the release of the data, the euro added to losses against the U.S. dollar, with EUR/USD shedding 0.31% to trade at 1.3491, compared to 1.3496 ahead of the data.
Meanwhile, the outlook for U.S. equity markets remained higher. The Dow Jones Industrial Average futures indicated a gain of 0.25% at the open, S&P 500 futures pointed to an increase of 0.2%, while the Nasdaq 100 futures indicated a rise of 0.3%.