Investing.com - U.S. non-farm productivity rose more than initially estimated in the second quarter of 2012, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 2.2% in the second quarter, compared to expectations for a 1.8% gain and up from a preliminary estimate of a 1.6% increase.
The report showed that unit labor costs rose by a seasonally adjusted 1.5% in the three months to June, in line with expectations and down from an initial estimate of a 1.7% increase.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.2% to trade at 1.2592.
Meanwhile, U.S. stock index futures held on to losses after the release of the data. The Dow Jones Industrial Average futures indicated a decline of 0.15% at the open, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures dipped 0.3%.
In a report, the U.S. Bureau of Labor Statistics said non-farm business sector labor productivity rose by a seasonally adjusted 2.2% in the second quarter, compared to expectations for a 1.8% gain and up from a preliminary estimate of a 1.6% increase.
The report showed that unit labor costs rose by a seasonally adjusted 1.5% in the three months to June, in line with expectations and down from an initial estimate of a 1.7% increase.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.2% to trade at 1.2592.
Meanwhile, U.S. stock index futures held on to losses after the release of the data. The Dow Jones Industrial Average futures indicated a decline of 0.15% at the open, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures dipped 0.3%.