Investing.com - U.S. non-farm productivity rose more-than-expected in the fourth quarter, official preliminary data showed on Tuesday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity increased by a seasonally adjusted 2.6% in the fourth quarter, after rising by 2.4% in the preceding quarter, whose figure was revised up from 2.3%.
Economists had expected non-farm productivity to rise by 2.2% in the fourth quarter.
The report also said unit labor costs declined unexpectedly, falling by a seasonally adjusted 0.6% in the fourth quarter, after falling by 0.1% in the preceding quarter, whose figure was revised up from 1.6%.
Economists had expected unit labor costs to rise by 0.5% in the fourth quarter.
Following the release of the data the U.S. dollar was up against the euro, with EUR/USD tumbling 0.79% to hit 1.3704.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures indicated a loss of 0.13%, S&P 500 futures pointed to a drop of 0.23%, while the Nasdaq 100 futures were down 0.27%.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity increased by a seasonally adjusted 2.6% in the fourth quarter, after rising by 2.4% in the preceding quarter, whose figure was revised up from 2.3%.
Economists had expected non-farm productivity to rise by 2.2% in the fourth quarter.
The report also said unit labor costs declined unexpectedly, falling by a seasonally adjusted 0.6% in the fourth quarter, after falling by 0.1% in the preceding quarter, whose figure was revised up from 1.6%.
Economists had expected unit labor costs to rise by 0.5% in the fourth quarter.
Following the release of the data the U.S. dollar was up against the euro, with EUR/USD tumbling 0.79% to hit 1.3704.
Meanwhile, the outlook for U.S. equity markets was downbeat: Dow Jones Industrial Average futures indicated a loss of 0.13%, S&P 500 futures pointed to a drop of 0.23%, while the Nasdaq 100 futures were down 0.27%.