FXstreet.com (Barcelona) - U.S Non Farm productivity has grown larger than previously estimated in the first three months of the year, despite the weakening economy, while labour costs grew at the lowest pace in four years, according to the latest report by the Labor Department.

Productivity has been revised up to a 2.6% increase in the first three months of the year, up from the previous 2.2% estimation, as output was higher than previously estimated.

On the other hand, unit labour costs, a gauge observed to measure inflationary pressures, has grown 2.2% in the first quarter, as previously estimated, 0.7% above the first quarter of 2007, which means the lowest year on year increase on labour costs since the year 2004.