US productivity growth slows to 2.2 per cent rate in Q3

WASHINGTON: US grew at an annual of 2.2 per cent in the third quarter. It marks a slowdown from the previous quarter but is still better than the weak gains seen for most of this nine-year expansion. Labour costs accelerated but still remained at a low level.

The Labour says the rise in productivity in the July-September period follows a 3 per cent rate of gain in the second quarter, which had been the strongest increase in three years. Labour costs rose at a 1.2 per cent rate after having fallen at a 1 percent rate in the second quarter.

Productivity, the amount of output per hour of work, has been weak throughout the current recovery. Analysts have been unable to come up with definitive reasons for the slowdown.
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