Investing.com - U.S. non-farm productivity rose in line with expectations in the first quarter, official 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 1.8% in the first quarter, broadly in line with market expectations, compared to preliminary data which showed a 1.6% increase.
The report also said unit labor costs rose less-than-expected, increasing by a seasonally adjusted 0.7% in the first quarter, compared to preliminary data which called for a 1% gain.
Economists had expected unit labor costs to rise by 0.8% in the first quarter.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD rising 0.86% to hit 1.4452.
Meanwhile, the outlook for U.S. equity markets was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.08%, S&P 500 futures indicated an increase of 0.13%, while the Nasdaq 100 futures added 0.2%.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity increased by a seasonally adjusted 1.8% in the first quarter, broadly in line with market expectations, compared to preliminary data which showed a 1.6% increase.
The report also said unit labor costs rose less-than-expected, increasing by a seasonally adjusted 0.7% in the first quarter, compared to preliminary data which called for a 1% gain.
Economists had expected unit labor costs to rise by 0.8% in the first quarter.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD rising 0.86% to hit 1.4452.
Meanwhile, the outlook for U.S. equity markets was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.08%, S&P 500 futures indicated an increase of 0.13%, while the Nasdaq 100 futures added 0.2%.